Avanti Finance, Credit Saison collaborate for financial inclusion in rural India
Avanti Finance, a technology-driven financial inclusion platform, and Credit Saison India, a leading neo-lending organization, have announced a strategic partnership to launch a co-lending program.
This initiative is designed to extend credit access to underserved borrowers in rural India, reflecting a mutual commitment to enable financial inclusion at the grassroots level.
Having successfully completed a pilot phase, this co-lending program has already financed 12,000 borrowers, with women making up 90 percent of the recipients. It has made a significant impact across four Indian states, namely Odisha, Bihar, Assam, and Manipur.
The program offers loans specifically designed to support various income-generating activities, including agriculture, agro-allied activities, and micro-enterprises.
Presha Paragash — Credit Saison India CEO said: “Our partnership with Avanti Finance aligns seamlessly with our mission to facilitate credit growth in India. We serve multiple segments with a diverse range of asset classes, and this program provides us with an opportunity to contribute to financial inclusion.
“The alignment of our missions, coupled with a digital-first mindset, will enable us to offer purpose-fit loans that contribute to the development of sustainable livelihoods. Avanti’s impressive paperless and presence-less platform has set the stage for exciting opportunities ahead, and we look forward to this journey.”
The initiative leverages Avanti’s comprehensive tech lending stack and its carefully curated partner network, further bolstered by the strong institutional balance sheet of Credit Saison. The partnership between Avanti Finance and Credit Saison India thus stands as a considerable step forward in advancing financial inclusion in India’s rural regions.
By harnessing their collective technology, expertise, and commitment to empowering individuals, the co-lending program aims to make a meaningful and lasting impact on rural communities in India.
Rahul Gupta — Avanti Finance CEO said: “We are delighted to collaborate with Credit Saison India to extend support to rural livelihoods with a range of loans that address hyperlocal needs. Credit Saison India, with its global parentage and financial depth, is a fantastic partner to build a scalable and impactful program.
“The partnership reflects our commitment to making credit accessible to customers at the base of the pyramid through our unique digital delivery-assisted model. We are now expanding to additional states, including Karnataka, Rajasthan, and West Bengal, with the goal of reaching 100,000 households and disbursing INR 500 crores annually.”