Cholamandalam Investment and Finance Company Limited (Chola), the financial services arm of Murugappa Group, today announced a strategic partnership with Rupyy, a new-age fintech, a CarDekho Group Company, to avail easy and quick access to loans and allied services.
Under this partnership, Chola in partnership with Rupyy will bring customers a specialized end-to-end digital and paperless platform that has been designed to make the entire loan journey more convenient for automobile customers and retailers.
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Commenting on the partnership, Mr. Ravindra Kumar Kundu, Executive Director, Cholamandalam Investment and Finance Company Limited, said, “With Rupyy’s vision to provide a holistic solution to their customers & to construct a complete ecosystem, we felt Rupyy’s platform would be a good fit for Chola to expand and offer our services to more than 4000 car dealers. Together, we aim to offer new and used buyers a customer-centric service for availing loans & allied services. We aim to grow our presence by providing the new age fin-tech services with swift, convenient, and, transparent processes”
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“We are delighted to partner with Cholamandalam, a reputed financial institution. With this partnership, we aim to offer our customers with loans and allied services much more quickly and in a phased manner. With the help of Chola’s deep market reach and penetration in tier 2-3 cities, Rupyy would add value in providing a brand-new experience to the customers availing car loans and services through a digital sourcing platform and QR code-based self-help journey’s,” adds Mr. Namit Jain, Co-Founder & CEO, Rupyy.
About Rupyy
Rupyy is a new-age fintech brand, backed by CarDekho Group. CarDekho Group is the first Jaipur based unicorn and is India’s leading auto-tech company, fulfilling consumers mobility dreams on the strength of technology and by digitizing the entire consumer journey in auto ecosystem. Rupyy offers end-to-end digital platform designed to make the entire loan journey paperless and convenient through the state-of-the-art tech stack, where it promises to introduce a whole new world of financing to its users.
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The experience incorporates a digital QR-code-based onboarding journey at car dealers/finance distributors. Consumers can avail a self-help journey through this QR-code, including video-KYC, e-NACH and e-Agreement to get their loan sanctioned at the Point of Sale in just a few minutes. Rupyy has expanded its reach to more than 150 locations across India, aiming to penetrate and deliver its services in smallest of the potential markets.
About Cholamandalam
Cholamandalam Investment and Finance Company Limited (Chola), was incorporated in 1978 as the financial services arm of the Murugappa Group. Chola commenced business as an equipment financing company and has today emerged as a comprehensive financial services provider offering vehicle finance, home loans, home equity loans, SME loans, personal loans, business loans, investment advisory services, stock broking, and a variety of other financial services to customers.
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Chola operates from 1151 branches across India with assets under management above INR 91,841 Crores.
The mission of Chola is to enable customers to enter a better life. Chola has a growing clientele of over 20.9 lakh happy customers across the nation. Ever since its inception and all through its growth, the company has kept a clear sight of its values. The basic tenet of these values is strict adherence to ethics and a responsibility to all those who come within its corporate ambit – customers, shareholders, employees, and society.
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