Poonawalla Fincorp Limited (Formerly Magma Fincorp Limited) has entered the digital consumption loans space through a tie-up with KrazyBee. Under this partnership, Poonawalla Fincorp will offer small ticket personal loans to individuals. Poonawalla Fincorp focuses on consumer and small business finance as a part of its stated strategy.

• Go-Digit’s Second Day of IPO: Latest Updates and RHP Details
• Digital Competition Bill Can Hinder With Tech Startup’s Investment Plans
• Government is Planning to Changing Base Year for Key Economic Indices to FY23
• Matel Raises $4 Million Through Series A Funding 
• US Increases Taxes on Batteries and Chips from China; Might Impact India 

This partnership is a step toward building a strong collaboration with partners who have demonstrated distribution at scale and risk management capabilities, and their technical prowess. The association provides complete end-to-end digital consumer loans across the country. The credit underwriting for these loans is done through a scorecard which enables the proper customer selection at scale. At the same time, the complete digital process helps democratize the process of taking loans.

The partnership has seen a lot of traction within a month of its launch, and the company intends to do more than 1000 crores of disbursement under this partnership in the current financial year.