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Fintech company Volt Money formed a strategic alliance with PhonePe to provide mutual fund loans to the company's clients. PhonePe is a major player in digital payments.
As part of the collaboration, Volt Money will offer credit with ticket sizes ranging from INR 25,000 to INR 5 Cr and integrate its lending services inside the PhonePe mobile app. With this change, Volt Money will be able to bolster its services by gaining access to PhonePe's 535 million users.
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Volt Money provides loans secured by investments in mutual funds. Additionally, it provides B2B fintech companies with the ability to offer embedded finance to their clients through both plug-and-play and deep integration options.
PhonePe announced its relationship with banks, non-banking financial businesses (NBFCs), and other fintech startups on the same day that they launched secured loan products.
Hemant Gala, CEO of lending, PhonePe, said: “We are excited to partner with Volt Money to offer loans against mutual funds through our newly launched secured lending platform”
Bharat Lamba, co-founder, Volt Money, said: “We are thrilled to partner with PhonePe to provide affordable loans against mutual funds to millions across India. Over the past year, our distribution capacity has grown rapidly and we are now live with 10+ fintech partners ,”
About Volt Money
Founded in 2022 by Lalit Bihani, Volt Money is a B2C lending platform that enables retail customers to get instant, low cost & flexible credit by pledging their MFs & stocks via a 100% digital.
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