Aditya Birla Housing Finance partners with BharatPe to Revolutionize Secured Lending

New Delhi: Aditya Birla Housing Finance (ABHFL), a fully owned subsidiary of Aditya Birla Capital Limited, India’s leading diversified financial services company, announced a strategic partnership with BharatPe, a renowned Indian fintech company to facilitate access to home loans and loan against property for merchant partners.

ABHFL is the first housing finance company to partner with BharatPe, offering streamlined access to secured lending through advanced digital solutions, significantly enhancing the user experience. This collaboration enables ABHFL to offer Home Loans (HL) and Loans Against Property (LAP) to over 1. 3 crore merchants of BharatPe across 450+ cities, with a strong focus on Tier 2 and 3 markets.

Backed by ABHFL’s financial expertise and BharatPe’s vast network, the partnership aims to provide seamless access to customized financing solutions for both, existing as well as new merchants.

Merchants can initiate loan applications directly through the BharatPe app, and avail benefits like faster processing, enhanced transparency, and real-time updates. The partnership is poised to deliver region-specific, innovative financing solutions tailored to meet the unique needs of BharatPe’s diverse merchant base.

Mr. Pankaj Gadgil, MD & CEO, Aditya Birla Housing Finance Ltd., said, " At Aditya Birla Housing Finance, with customer at the heart of everything that we do, it is our constant endeavour to align our solutions with the evolving digital needs of our customers. This partnership with BharatPe enables us to expand our digital footprint while offering customised region-specific financial solutions to their vast digital ecosystem. It will empower a larger segment of the population to achieve their homeownership dreams with greater ease and efficiency. This initiative underscores our commitment to providing a happy home loan experience and strengthens our role as industry innovators to make homeownership achievable for a wider range of individuals.”

Mr. Nalin Negi, CEO, BharatPe, said, “In August this year, we ventured into secured loans with the launch of Two-wheeler loans and Loans Against Mutual Funds, offered in partnership with renowned financial services companies. I am excited about our partnership with Aditya Birla Housing Finance that enables us to offer 2 new types of secured loans- Home Loans and Loans Against Property. I am confident that with this partnership, we will be able to add a new dimension to our existing association with our merchants. This partnership will enable us to offer region- specific, digital first secured credit solutions to the merchants of Bharat. These categories of loans will also play a vital role in enhancing our engagement with our merchant partners, as we will be able to help them with credit for their big-ticket or once in a lifetime purchases. We stay committed to empower offline merchants across the country with our wide range of offerings and will continue to innovate to add new and relevant fintech products for the merchants and consumers across the country.”

ABHFL will cater to the diverse needs of BharatPe's vast merchant network by offering innovative, customised financing solutions designed to meet the specific requirements of different regions across India. This signifies a new milestone in ABHFL's dedication to broadening its digital presence and offering innovative financial solutions to a wider audience.

About Aditya Birla Housing Finance Limited

Aditya Birla Housing Finance Limited ("ABHFL"), a subsidiary of Aditya Birla Capital Limited is a fast-growing housing finance company ("HFC") in India. ABHFL is registered with the National Housing Board (NHB) as a non-deposit accepting housing finance company and commenced operations in October 2014.

As of June 30, 2024, ABHFL manages assets under management of over Rs. 20,399 Crore and has significantly expanded its footprint to 138 branches. The company holds a long-term credit rating of AAA (stable) and short-term credit rating of A1+ from Crisil, ICRA and India Ratings.

About Aditya Birla Capital Limited

Aditya Birla Capital Limited (“ABCL”) is the holding company for the financial services businesses of the Aditya Birla Group. Through its subsidiaries/JVs, ABCL provides a comprehensive suite of financial solutions across Loans, Investments, Insurance, and Payments to serve the diverse needs of customers across their lifecycle. Powered by over 50,000 employees, the businesses of ABCL have a nationwide reach with over 1,505 branches and more than 200,000 agents/channel partners along with several bank partners.As of June 30, 2024, Aditya Birla Capital Limited manages aggregate assets under management of Rs. 4.63 Lakh Crore with a consolidated lending book of Rs 1.27 Lakh Crore through its subsidiaries/JVs.

Aditya Birla Capital Limited is a part of the US$66 billion global conglomerate Aditya Birla Group, which is in the league of Fortune 500. Anchored by an extraordinary force of over 187,000 employees belonging to 100 nationalities, the Group is built on a strong foundation of stakeholder value creation. With over seven decades of responsible business practices, the Group’s businesses have grown into global powerhouses in a wide range of sectors - from metals to cement, fashion to financial services and textiles to trading. Today, over 50% of the Group’s revenues flow from overseas operations that span over 40 countries in North and South America, Africa, Asia, and Europe.

About BharatPe Group

BharatPe (brand name of Resilient Innovations Pvt Ltd) was founded in 2018 to make financial inclusion a reality for Indian merchants. In 2018, launched India’s first UPI interoperable QR code, the first zero MDR payment acceptance service. In 2020, post-Covid, BharatPe also launched a card acceptance terminal – BharatPe Swipe. Currently with a registered network of over 1.3 crore merchants across 450+ cities, the company is one of the leading players in UPI offline transactions, processing 450 million+ UPI transactions per month. BharatPe processes payments of annualized Transaction Processed Value of over Rs. 1.7 Lac Crores. BharatPe Money (brand name of Resilient Digi Services Private Limited), a BharatPe Group Company, has already facilitated the disbursement of loans of over Rs. 18,000 crores, in partnership with NBFCs. BharatPe’s POS business processes payments of over Rs. 29,000 crores annually on its machines. BharatPe has raised over US$ 583 million in equity till date. The company’s list of marquee investors includes Peak XV Partners (formerly known as Sequoia Capital India), Ribbit Capital, Insight Partners, Amplo, Beenext, Coatue Management, Dragoneer Investment Group, Steadfast Capital, Steadview Capital and Tiger Global. In June 2021, the company announced the acquisition of PAYBACK India (Rebranded to Zillion), the country’s largest multi-brand loyalty program company with 100 million+ members. In October 2021, the consortium of Centrum Financial Services Limited (Centrum) and BharatPe, was issued a Small Finance Bank (SFB) license by the Reserve Bank of India (RBI). BharatPe also entered the consumer fintech segment with the launch of postpe in October 2021. In August 2024, the company rebranded postpe app to BharatPe and ventured in the consumer payments space with the launch of its UPI TPAP. In January 2023, Resilient Payments Pvt Ltd, a BharatPe Group Company, received an in-principle nod from the Reserve Bank of India (RBI) to operate as an online payment aggregator. In April 2023, BharatPe acquired is also a promoter in Trillionloans, a renowned NBFC (Non- Banking Financial Company) registered with RBI.