Credit Wise Capital (CWC), a renowned NBFC, and Muthoot Capital announced a co-lending collaboration for a large INR 400 crore investment agreement. This strategic alliance intends to deliver seamless financing solutions to customers purchasing two-wheelers across India in a digital manner via Twin2 – a CWC exclusive product that ensures a hassle-free customer experience.
This collaboration demonstrates Credit Wise Capital’s remarkable development trajectory and dedication to providing accessible credit solutions for consumers looking to buy two-wheelers. The partnership’s goal is to combine the individual strengths of Credit Wise Capital and Muthoot Capital to provide a simple and effective loan procedure to customers purchasing two-wheelers across India. This collaboration will also improve Credit Wise Capital’s product offerings, broaden its market reach, and strengthen its operational capabilities.
Aalesh Avlani, Co-Founder, of Credit Wise Capital, expressed his excitement about the partnership, stating, “The two-wheeler market holds great untapped potential, and this partnership with Muthoot Capital is aimed to capitalize on that. Together, we will expand our customer base and offer enhanced financing solutions, along with a strong credit assessment framework and streamlined loan processing services”.
Gurpreet Singh Sodhi, Co-Founder, of Credit Wise Capital, expressed his views about this stating, “With the steady rise in demand for two-wheelers in India, Credit Wise Capital has emerged as a trusted financial partner for individuals seeking affordable and convenient financing solutions. The co-lending partnership agreement with Muthoot Capital will enable us to reach wider customer network in smaller towns of India”.
Mathews Markose, Chief Executive Officer, Muthoot Capital Services Ltd said, “Muthoot Capital is a diversified financial institution and recognizes the potential of the two-wheeler financing segment and has chosen to co-lend with Credit Wise Capital to capitalize on this opportunity. This strategic partnership showcases Muthoot Capital’s commitment to supporting the growth and development of innovative financial services in India”.
Muthoot Capital, under separate arrangement, uses the vast network of branches of their flagship Company Muthoot FinCorp to sell two-wheeler products across the country.”
Credit Wise Capital and Muthoot Capital’s collaboration is an important milestone for both organisations, demonstrating their commitment to fostering financial inclusion and empowering customers with affordable mobility solutions. The companies hope to alter the two-wheeler financing environment by merging their expertise, making it more accessible and efficient for clients across India.
Credit Wise Capital and Muthoot Capital are committed to maintaining the best levels of client service, transparency, and regulatory compliance. They will collaborate closely to ensure that their businesses are seamlessly integrated and that the benefits of this relationship are maximised for all stakeholders, including consumers, employees, and shareholders.