NBFC firm Credit Wise Capital announced the launch of a co-lending partnership with Muthoot Capital for a significant Rs 400 crore investment agreement. The partnership aims to provide seamless financing solutions to customers purchasing two-wheelers across the country in a digital manner through Twin2, which is a proprietary product of Credit Wise Capital.
The objective of the partnership is to combine Credit Wise Capital and Muthoot Capital’s individual strengths to deliver a smooth and effective lending process to customers purchasing two-wheelers across India. The partnership will also enhance Credit Wise Capital’s product offerings and expand its market reach and augment its operational capabilities, it said.
“The two-wheeler market holds great untapped potential, and this partnership with Muthoot Capital is aimed to capitalize on that. Together, we will expand our customer base and offer enhanced financing solutions, along with a strong credit assessment framework and streamlined loan processing services,” said Aalesh Avlani, Co-Founder, Credit Wise Capital.
“Muthoot Capital is a diversified financial institution and recognizes the potential of the two-wheeler financing segment and has chosen to co-lend with Credit Wise Capital to capitalize on this opportunity,” said Mathews Markose, Chief Executive Officer, Muthoot Capital Services Ltd. Under a separate arrangement, Muthoot Capital uses its vast network of branches of its flagship company Muthoot FinCorp to sell two-wheeler products across the country.
Credit Wise Capital and Muthoot Capital are committed to maintaining the highest standards of customer service, transparency, and compliance with regulatory requirements,” the NBFC company said in a statement.