Editorial Team

CredAvenue has emerged as the largest co-lending platform in the country, with its CredCo-Lend platform recording over 80,000 transactions/day and with over 2 million underlying loans through the platform. Last year the platform enabled over ₹5,000 Cr of the gross transaction value (GTV). Apart from being India’s first digital co-lending platform, this number strengthens CredAvenue’s standing as the leader in terms of business numbers too.

CredAvenue’s platform today has over 240+ co-lending partners deeply integrated and over 500+ lenders, including PSUs, private lenders and NBFC lenders. Its co-lending platform has 240+ clients and 500+ investors across fifteen asset classes. Since inception, the co-lending platform has registered more than 14.5 lakh transactions with a ₹3,054 crore transaction value.

This reaffirms the belief that several banks, non-banking financial companies (NBFCs), housing finance companies (HFCs) and microfinance institutions (MFIs) have shown interest in digital co-lending via CredCo-Lend. The entire ecosystem that such a platform enables and empowers all stakeholders and helps lenders find credible partners easily while boosting credit availability for customers. This has also immensely helped originators with access to multiple lenders and products, minimising their time spent on lender relationships.

This has given an impetus to co-lending adoption. One of the recent partnerships the platform has facilitated – connecting Finnable Credit Private Limited and Utkarsh Small Finance Bank for a business correspondence alliance – showcases this phenomenon. Among other significant alliances, Infosys Finacle – India’s largest digital core banking solutions (CBS) provider has partnered with CredAvenue to extend discovery, operations, and portfolio management services for Indian and global banking clients’ co-lending (co-originated) assets. The partnership will give CredAvenue access to existing clients of Infosys Finacle, which has a 70% share of India’s CBS market and a presence in 100 countries.

Speaking on achieving this milestone, Gaurav Kumar, Founder and CEO, CredAvenue, said, “Co-lending is poised to grow massively in the near future, and we are excited to be the preferred partner of most of the Banks, NBFCs and fintech firms. At CredAvenue, our aim has always been to lead when it comes to debt investing solutions. Our co-lending platform offers an end-to-end technology stack for partners to manage the entire life cycle of the co-lending product. Once you integrate with the platform, you get access to all the lenders and co-lending partners in our ecosystem.”

Commenting on the milestone, Amit Arora, Co-Founder at Finnable Credit Private Limited, said, “CredAvenue’s co-lending platform has enabled us to connect with both Banks and NBFCs and get access to competitive borrowing costs with ease. With quick one-time API integration and hassle-free loan disbursement process, we have significantly brought down turnaround time to source and co-lend our products in collaboration with our lending partners. Being live on the platform with Vivriti Capital and Utkarsh Small Finance Bank is just the start, we plan to expand our scope of disbursement volumes and partners even further in the coming months.”

The CredCo-Lend platform has a robust infrastructure to power the end-to-end loan lifecycle and ensure compliance. It has a user-friendly interface, providing a seamless experience for the end-users. The platform is designed so that the partnership between two co-lending firms is done via a one-time integration, saving both parties time and effort. CredAvenue is ISO 27001 certified and has a CSA Star Registry listing, demonstrating a strong emphasis on IT security. The platform also undergoes a quarterly security assessment and multiple external audits to provide fool-proof data security infrastructure. Apart from convenience in loan creation and helping in joint underwriting, it also provides post disbursement support, portfolio monitoring, invoicing and settlement with real-time information processing.

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