According to reports the Poonawalla Fincorp Limited (Magma Fincorp Limited), is debuting in the digital consumption loans space over a tie up with KrazyBee.

Under this partnership, Poonawalla Fincorp will offer small ticket personal loans to individuals. Poonawalla Fincorp will focus on consumer and small business finance as a part of its stated strategy.

This partnership aims in building a strong partnership with partners who have established distribution at scale, and risk management capabilities along with their technical skills. The partnership 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 right customer selection at scale, while the complete digital process helps democratize the process of taking loans.

CA Abhay Bhutada, Managing Director, Poonawalla Fincorp says, “we are glad to partner with KrazyBee for new business opportunities and connecting with prospective customers through KreditBee’s digital platform. We are a digital-first, technology-led lender, and this partnership with KrazyBee is a natural fit for our business strategy. The partnership brings together two lenders who are obsessed with customer satisfaction and want to offer the best of customer experience to all their customers by leveraging technology.”

Madhusudan E, CEO, KrazyBee says, “our technology strength empowers our partners to provide seamless disbursement services. Partnering with a Digital-first partner like Poonawalla Fincorp helps us offer a wider range of products and services to our customers and also enables us to meet the ever-growing demand for digitally enabled loans.”

The partnership has seen a lot of adhesion 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.