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Gyananjaya Behera
Helping an Idea to S... • 1y
Volt Money Partners PhonePe To Offer Loans Against MFs - Partnership Announcement: Volt Money has partnered with PhonePe to offer loans against mutual funds through the PhonePe app, with loan sizes ranging from INR 25,000 to INR 5 Cr. - Integration and Reach: This collaboration allows Volt Money to tap into PhonePe’s vast user base of 535 million, enhancing its distribution capabilities. - Strategic Benefits: Both companies aim to provide affordable loans and leverage mutual funds as a secure asset class for lending, reflecting the growing trend in digital lending. - Company Background: Volt Money, founded in 2022, offers loans against mutual funds and raised $1.5 Mn in pre-seed funding from investors like Titan Capital. - Market Context: The digital lending market in India is rapidly expanding, driven by increasing smartphone and internet penetration, with an expected market size of $720 Bn by 2030.
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