Poonawalla Fincorp and CARS24 Announce Strategic Partnership for Flawless Consumer Finance, Auto News, ET Auto
In this partnership, Poonawalla Fincorp Ltd will honor consumer loans from CARS24. In addition, both parties will participate in the risks and rewards.
Commenting on this strategic partnership, Vijay Deshwal, Managing Director of Poonawalla Fincorp Ltd (PFL) Group, said: “We are delighted to partner with CARS24 to provide transparent financing to used car customers. Owning a car has become a necessity lately. and the pandemic has further accelerated this trend. ”
“With technology at the core, at Poonawalla Fincorp we aim to create a digital consumer lending platform and this partnership with CARS24 is a step in that direction. We are optimistic that it will be a great partnership and provide a hassle-free experience. customers to make their dream of owning a car come true. “
Ruchit Agarwal, Co-Founder and CFO of CARS24, said: “With only around 20% consumer finance penetration in the used car industry, we believe there is a huge market opportunity to be exploited. . Our partnership with Poonawalla Fincorp Ltd (formerly known as Magma Fincorp Limited) is another step in making consumer finance easy, transparent and secure, making the dreams of more Indians owning a car a reality. We are convinced that this partnership brings us closer to our goal of becoming a one-stop solution for used vehicles. cars by solving a simplified process of buying, selling and financing vehicles. “