BharatPe has partnered with OTO Capitala digital lending and commerce platform that enables loans for two-wheeled vehicles. Additionally, the company has partnered with There was money to facilitate loans against mutual funds to its business partners. The company plans to expand this to a multi-product and multi-lender offering in the next phase.
BharatPe merchants can now avail two-wheeler loans of up to Rs 2.5 lakh, at competitive interest rates, for their next two-wheeler purchase from OTO Capital. The loan application process is 100% digital and merchants have the option to choose the repayment period between 12 to 48 months. With the launch of LAMF in association with Volt Money, BharatPe merchants can also avail loans of up to Rs 1 crore against mutual funds.
Nalin Negi, CEO of BharatPe, said in a statement, “The launch of secured loans for BharatPe merchant partners will open up a new monetization channel for us and will also help us drive engagement with our merchants by offering them a wide portfolio of loan options to choose from. In the coming months, we will be adding new products in the secured loans category to cater to a wide range of requirements. I am confident that secured loans will make a significant contribution to our overall revenue in the coming months. We remain committed to empowering our merchant partners and will continue to roll out disruptive products that are relevant to them.”
Sumit Chhazed, CEO, OTO Capital, said in a statement, “We believe in the power of mobility to transform lives. Our mission is to make two-wheeler ownership accessible and affordable for all aspiring entrepreneurs in India. Together, we are committed to providing accessible mobility solutions that will help businesses thrive.”
Bharat Lamba, Co-Founder and COO of Volt Money, said in a statement, “By offering instant mutual fund loans, we are uniquely positioned to meet the short-term liquidity and working capital needs of SMEs, thereby enabling and empowering them financially. This collaboration represents a significant step forward in our commitment to provide low-cost, 100% digital financing solutions to Indian businesses by deploying them to BharatPe’s large and diverse merchant base.” Both two-wheeler loans and mutual fund loans will be enabled on the BharatPe platform. The partner will handle the disbursement and collection of the loans.
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