CredAvenue, India’s most comprehensive debt market platform, today launched the first edition of its CredCo-lend Annual Report, which highlights the platform’s annual success as well as the Co-lending sector’s industry outlook.
CredCo-lend has grown by 35% month on month and has disbursed close to INR 5000 crores in loans with more than 14 lakhs transactions in FY 21-22. The examination of the data on its platform reveals some interesting facts which point to a few significant trends:
● Consumer Finance accounted for 47% of the platform’s total co-lending volume.
● Housing finance is another important category utilising the co-lending platform, accounting for 35% of overall co-lending volume, followed by the SME segment, which accounts for 9% of overall co-lending volume.
● Maharashtra, Karnataka, and Tamil Nadu account for 36% of the co-lending volumes in the Consumer sector.
● Close to 25% of the co-lending transactions from Delhi and NCR are for Housing Loans.
● More than 30% of the two-wheeler financing comes from Tamil Nadu, followed by Punjab, Maharashtra, and Karnataka, with close to 10-15% shares each.
“As a category leader in digital co-lending, we have produced the inaugural edition of this report, which will illustrate our performance and the key advances in the market,” said Irfan Shaik Mohammad, CredAvenue’s Chief Business Officer – Financial Services. It is critical for the Indian economy to grow those individuals and businesses have access to debt across asset classes, demographics, and even tier 2, 3, and 4 cities. We connect lenders and originators who share this ambition through our tech-enabled co-lending infrastructure. We provide lenders with the option of selecting a partner from a diverse pool of originators to meet their priority sector lending needs.”
CredAvenue‘s CredCo-lend platform is assisting in the scalability of the co-lending space by providing a fully integrated tech-driven co-lending marketplace that streamlines the co-lending procedures of banks and NBFCs via a one-time API integration. The self-serve API minimizes the headaches and time spent onboarding multiple partners, allowing customers to easily get started and scale up their partnerships. Origination, underwriting, disbursement, collection, portfolio monitoring, settlement, and invoice offerings are all covered by the platform.
