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CarDekho's Rupyy Ventures into Personal Loan Segment - InvestNagar

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CarDekho's Rupyy Ventures into Personal Loan Segment

CarDekho's Rupyy Ventures into Personal Loan Segment - InvestNagar


Rupyy, the fintech wing of CarDekho Group, is expanding its services by venturing into the personal lending market. The move is aimed at diversifying revenue streams beyond auto loans and tapping into a new customer base. Leveraging its extensive user base, Rupyy plans to offer small-ticket personal loans initially, focusing on salaried individuals. The expansion will be facilitated through co-lending partnerships with leading banks and NBFCs. This strategic move aligns with CarDekho Group's growth trajectory, marked by significant revenue increase and a focus on fintech solutions.

Key Points:

  1. Rupyy, CarDekho Group's fintech arm, is entering the personal lending space to diversify revenue streams beyond auto loans.
  2. The move targets a new customer base, leveraging CarDekho's extensive user base of over 40-50 million active users.
  3. Initially, Rupyy will focus on offering small-ticket personal loans under Rs 40,000 to salaried individuals.
  4. Co-lending partnerships with leading banks and NBFCs will facilitate Rupyy's expansion into the personal loan segment.
  5. Rupyy aims to transform into a comprehensive financing platform, moving beyond its stronghold in car financing.
  6. The expansion into personal lending aligns with CarDekho Group's strategy to achieve profitability and prepare for a potential IPO.
  7. CarDekho Group witnessed impressive revenue growth in FY23, attributed to the robust performance of Rupyy and InsuranceDekho.
  8. The group's strategic focus on fintech solutions reflects its commitment to innovation and long-term growth.
  9. Rupyy's entry into the personal loan segment underscores CarDekho Group's proactive approach to seizing growth opportunities.
  10. The expansion is expected to further enhance CarDekho Group's position in the fintech landscape and drive overall business growth.

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