Latest news with #financialInclusion
Entrepreneur
08-07-2025
- Business
- Entrepreneur
Credit Wise Capital Raises INR 200 Cr in Funding Led by Trident Growth Partners
The fresh capital aims to fuel expansion across two-wheeler financing, secured loans, and tech-driven credit enablement in tier II - IV Indian cities. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Credit Wise Capital, a leading non-banking financial company (NBFC) specialising in two-wheeler and MSME lending, has raised INR 200 crore in its first institutional funding round, led by Trident Growth Partners (TGP). Of the total investment, INR 120 crore was contributed by TGP, a private equity firm focused on India's consumption-led growth. The capital infusion will be deployed to strengthen Credit Wise Capital's presence in tier II to tier IV cities across India. The company plans to triple its assets under management (AUM) over the next three years, expand its secured lending portfolio, and enhance its proprietary technology stack to accelerate credit inclusion for underserved communities. "This capital will enable us to reach more customers, strengthen our tech stack, and bring formal finance closer to those who have been excluded for too long," said Aalesh Avlani, Co-founder of Credit Wise Capital. "Our mission has always been to make credit simple, fast, and human; and with Trident's support, we are ready to scale that promise and accelerate financial inclusion in Bharat." Founded in 2018 by Aalesh Avlani and Gurpreet Singh Sodhi, Credit Wise Capital offers two-wheeler loans, loans against property (LAP), and licenses its proprietary SaaS-based credit platform to other NBFCs and financial institutions. Operating through a 'phygital' model—combining physical networks with digital underwriting—the company has built a robust presence in over 215 cities across 10 Indian states. As of March 2025, the firm's AUM stood at INR 645 crore, a 32% increase from INR 489 crore the previous year. With over 200,000 two-wheeler loans disbursed and a healthy capital adequacy ratio of 31.2%, Credit Wise Capital is emerging as a key player in India's financial inclusion landscape. "We are delighted to welcome Trident Growth Partners as a strategic partner who shares our long-term vision," added Gurpreet Singh Sodhi. "Their investment reaffirms our belief in leveraging technology and disciplined operations to create a transformative impact on the lending ecosystem." Trident Growth Partners' Managing Partner Atul Gupta noted, "Credit Wise Capital represents exactly the kind of founder-led business we look to back—solving real-world problems with tech-enabled scale. We're proud to support their journey toward becoming a full-stack financial partner for emerging India." With this funding, Credit Wise Capital is poised to expand deeper into Bharat, offering affordable, tech-enabled financial solutions where they are needed most.
Finextra
07-07-2025
- Business
- Finextra
Pay10 secures Bank of Bharain licence
The Central Bank of Bahrain has officially approved Pay10, which is a big step in its plan to grow in the region. 0 The Pay10 Bahrain licence lets the fintech company offer payment solutions that are compliant with regulations and work in real time to help the Kingdom reach its digital transformation goals. With this license, Pay10 will deliver mobile-first interoperable infrastructure designed to integrate with Bahrain's domestic payment rails, ensuring compliance, speed, and reliability across every transaction and directly contributing to the Kingdom's broader vision for financial inclusion and diversified economic growth. Harry Gill, Pay10 Chairman stated: 'We are honored to receive this license from the Central Bank of Bahrain and to support the Kingdom's progressive approach to financial innovation. Our goal is to build real-time, regulator-aligned payment systems that put users, both consumers and merchants, at the center of the digital economy.' With the Pay10 Bahrain licence, the company can provide secure, compliant, and real-time payment infrastructure to banks and businesses. Bahrain is one of the region's most progressive financial systems, underpinned by agile regulation, public-private collaboration, and a clear commitment to digital innovation. The Central Bank of Bahrain has created a regulatory foundation that invites innovation while maintaining oversight, allowing next-generation platforms like Pay10 to contribute meaningfully to the Kingdom's digital transformation. According to the Central Bank of Bahrain's March 2025 Financial Stability Report, the country's payment landscape is undergoing accelerated digitalization. In the second half of 2024 alone, POS and e-commerce transactions rose by 20.4% in volume and 14.6% in value. The Fawri+ real-time payment system, a critical component of Bahrain's domestic rails, saw its transaction volume increase by 20.5%, and value grow by 13.2%. Additionally, contactless payments now account for more than 77% of all point-of-sale transactions, reflecting a decisive shift in consumer behavior. The CBB projects that contactless, QR-based, and wallet-enabled payments will overtake traditional methods as the primary mode of retail transactions. With over 90% of Bahrain's businesses classified as small and medium enterprises, the demand for cost-effective, interoperable, and real-time payment infrastructure has never been higher. Yet many of these businesses remain underserved by legacy systems. Pay10 is designed to close that gap. The company is ready to help Bahrain's growing fintech ecosystem with new payment services that follow the rules now that it has the Pay10 Bahrain licence.
Finextra
26-06-2025
- Business
- Finextra
What's Driving Digital Banking Innovation in APAC?
Providing insights on innovation in the APAC region, Will Dale, MD, APAC, Temenos and Minh Vu Hong, Head of Core Banking, Big Data & Analytics, MSB joined the FinextraTV studio at Temenos Community Forum 2025. Explaining how APAC innovation has come out of a need for creativity in order to drive financial inclusion among large populations, Dale and Vu Hong spoke about how to improve and modernise product design, deployment and investment.
Fast Company
23-06-2025
- Business
- Fast Company
FICO's new credit scores will include buy now, pay later loans data. Here's how it could impact your score
Buy now, pay later (BNPL) payment options are increasingly popular, particularly among young consumers. A recent survey from J.D. Power shows that 42% of millennials and Gen Z actively use BNPL loans to make purchases. But BNPL loans have not been incorporated by major credit scoring companies, meaning that lenders attempting to size up borrowers and make lending decisions have had a blind spot regarding these debts. Until now, that is. FICO, one of the leading credit scoring companies, announced on Monday that it has launched FICO Score 10 BNPL and FICO Score 10 T BNPL, two new scores that incorporate buy now, pay later data. Lenders utilizing these scores can now get a more complete picture of a borrower's background, potentially leading to more informed lending decisions. And for borrowers, it may mean a better credit score, especially for those who have responsibly used BNPL services in the past. 'We want to make sure that we're looking at data that will enable lenders that use the FICO score to have the clearest picture,' says Julie May, vice president and general manager of B2B Scores at FICO. 'This is a product that's been growing rapidly, and we think it's important to be groundbreaking in this approach.' 'It can really drive financial inclusion,' she adds. 'Frequently, people use BNPL, and if represented in credit scores, can drive more creditworthiness.' Most scores increase, according to FICO's research Earlier this year, FICO published the results of a yearlong analysis done in tandem with BNPL company Affirm. Simulating the impact of BNPL data on FICO scores, the analysis found that Affirm customers with multiple BNPL loans would 'most likely' see their scores increase. 'What's groundbreaking and exciting about these new scores is that they're going to allow those younger consumers to build credit and build their FICO score,' says Ethan Dornhelm, vice president of FICO Scores and Predictive Analytics. 'For borrowers who have blemished, limited, or no credit history, with the inclusion of BNPL data, borrowers are likely to see a benefit in their scores.' As FICO is preparing to launch the new scores—which are expected to be available to lenders later this year—it may mark something of a change in strategy, too. While many borrowers may have initially been attracted to BNPL loans due to concerns about their own creditworthiness (and potential inability to secure a line a credit, accordingly), BNPL loans may now look more like a credit-enhancing product, rather than an offering of last resort. 'One of the early selling points for BNPL firms was that they were not sharing data with the credit bureaus,' Ben Danner, senior analyst, credit and commercial at Javelin Strategy & Research, told PaymentsJournal earlier this year. 'The idea was that this lack of sharing would be attractive to consumers, particularly those concerned with their credit scores.' He continued: 'However, with potential regulatory changes on the horizon, it makes sense for BNPL vendors to pivot towards a strategy that markets these loans as a credit enhancement tool.'
Finextra
20-06-2025
- Business
- Finextra
Oakbrook taps Experian ReFi tech for new personal loan
Oakbrook and Experian have launched OakbrookOne, a new type of personal loan designed to make borrowing simpler, fairer, and more accessible – particularly for those traditionally underserved by mainstream credit. 0 It helps eligible customers bring their debts together into one manageable payment, with the process handled seamlessly in the background. Developed using Experian's ReFi™ technology, the digital journey is quick and straightforward. Currently, over 40% of customers taking out an OakbrookOne loan on the Experian Marketplace have had their debts settled and funds paid out the same day. 2 The product has already soft-launched on the Experian Marketplace and is now being rolled out more widely. The launch marks a significant milestone in a six-month collaboration between the two organisations, focused on using data and technology to drive financial inclusion. The partnership was born out of a shared commitment to address the UK's widening credit gap. Since late 2024, Oakbrook and Experian have worked together to pilot ReFi™ technology with real customers. Over the past six months, Experian and Oakbrook have delivered over £5 million in lending through ReFi™. This partnership comes at a time when the FCA has called on lenders to 'step up' and fill the void left by market exits. OakbrookOne is a direct answer to that call - a product that works for both lender and borrower, backed by data, and built for impact. Claire Smith, Head of Marketing at Oakbrook, added: 'ReFi™ is helping us approve more applications in a way that's smarter, safer, and more affordable. We've already helped thousands of people save money and reduce their debt burden, and this is just the beginning. OakbrookOne is a gamechanger and together with Experian, we're setting a new standard for inclusive lending.' Jake Ranson, ReFi™ Managing Director at Experian, commented: 'OakbrookOne is a breakthrough for financial inclusion in the UK. By harnessing the power of our ReFi™ technology, we're enabling access to credit for people who've traditionally been left behind. The results speak for themselves - better-performing loans, lower interest rates, and real savings for consumers.' References: 1. Source: Experian marketplace data, 2nd May 2025. A typical customer taking out a ReFi enabled loan on the Experian credit comparison marketplace has saved over £5,000 in interest over the term of a 36-month loan 2. Experian marketplace data from 10.06.25 that reported 1,000 completed Oakbrook loans with 400 (40%) being settled with funds paid out on the same day.
