Axis Bank, Muthoot Microfinance partner with Yubi for lending to MFIs

Private sector lender Axis Bank and Muthoot Microfinance, on February 13, partnered with Yubi to lend to microfinance institutions (MFI).

Axis Bank will use Yubi's co-lending platform to develop a portfolio spanning diverse sectors, with an initial focus on MFI. And, Muthoot Microfin will handle sourcing and collection activities, they said in a press release.

Axis Bank is the country's third largest private sector bank providing loans to MFI under it's Bharat banking segment. Muthoot Microfin is the microfinance arm of Muthoot Pappachan Group. Yubi is a fintech company with expertise on providing co-lending technology platforms.