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Piramal Capital & Housing Finance (PCHFL) has tied up with API Holdings to provide financing solutions to customers and has earmarked an amount of Rs 100 crore for disbursement by the end of this fiscal.
Piramal Capital & Housing Finance Limited (PCHFL), the wholly-owned subsidiary of Piramal Enterprises Limited, has forged a strategic partnership with API Holdings through its digital platform Retailio, a release said.
Retailio is India’s largest digital B2B healthcare platform. The partnership aims at synergizing respective capabilities to provide efficient and seamless financing solutions to consumers, retailers and merchants in the API Holdings’ healthcare ecosystem.
"Under this partnership, PCHFL Finance has earmarked an initial amount of Rs 100 crore for disbursement by March 2022, which will get upsized basis initial market response," PCHFL said.
PCHFL will cater to products like Buy Now Pay Later (BNPL) for consumers and merchants, multi-collateral loans for retailers, supply chain financing, hospital financing, invoice discounting, among others. PCHFL will cater to products like Buy Now Pay Later (BNPL) for consumers and merchants, multi-collateral loans for retailers, supply chain financing, hospital financing, invoice discounting, among others. Jairam Sridharan, MD, Piramal Capital & Housing Finance Limited said the partnership with API Holdings will provide tech-enabled financing solutions to fulfill the healthcare needs of their customers.
"Healthcare has become one of the largest sectors in India, driven by disruptive innovation and increasing spends by consumers – as people are prioritizing health and well-being in the new normal".
"New age platforms like Retailio are leading the paradigm shift in the sector through impactful and scalable digital health solutions that make a real difference in the lives of people," he said.
This partnership is in line with the company’s strategy of expanding the retail portfolio through a mix of collaboration-led origination model and leveraging distinguished digital lending capabilities.
"We look forward to a profitable and long-term partnership with API Holdings, as we aim to disburse up to Rs 100 crore by the end of March 2022," Sridharan said.
Harsh Parekh, Whole-time Director and Co-founder, API Holdings, said this partnership will provide the right capital impetus across the full spectrum of ecosystem partners that the company currently caters to.
"By bringing together our potential synergies, we aim to provide capital to the underserved SME/ MSME segment that would in-turn help fuel growth for these businesses," Parekh said.