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Ahmedabad Based Online PSB Loans Raises Rs. 50 Cr

Ahmedabad headquartered, India’s leading online lending platform, Online PSB Loans Limited (“OPL”) has raised investment of INR Rs. 50 Crores in its current round of funding led by TransUnion and HDFC Holdings Limited (a wholly owned subsidiary of HDFC Limited). The investment will see both TransUnion and HDFC take strategic minority holdings in OPL.

OPL is an online lending platform that enables borrowers – primarily Micro, Small and Medium Enterprises (MSMEs) and individuals – to apply for a loan online and receive in-principle approval in 59 minutes or less from leading banks and credit institutions. Since its inception, OPL has established itself as one of India’s leading online commercial lending platform, meeting the needs of an evolving lending ecosystem. Today, OPL has an established online marketplace ( and also provides lending solutions to leading banks and financial institutions.

“We are thrilled to join forces with partners who share our vision of advancing social and economic development. When we can bring more opportunity to India’s small and medium-sized businesses and individuals through improved borrowing practices, the possibilities are endless,” said Jinand Shah, MD & CEO, Online PSB Loans. “Together with TransUnion and HDFC Ltd. team, we will expand access to lending services and improve analytical capabilities for our customers,” added Ronak Shah, Co-founder & COO, Online PSB Loans.

The MSME sector forms the backbone of India’s economic growth. Insights show that only about one-third of MSMEs in India are served through the formal credit ecosystem, indicating the opportunities for increasing credit penetration in the MSME segment. Through the partnership, all three companies will combine their unique strengths and capabilities across data, technology and analytics to explore the development of new products and solutions, which will transform the lending landscape in the country.

“TransUnion is committed to supporting banks and credit institutions in sustainable growth of their MSME portfolios while improving reach and driving access to finance for MSMEs” said Rajesh Kumar, Managing Director & CEO, TransUnion CIBIL, a TransUnion Group company. “OPL’s convenient, easy-to-use technology will allow TransUnion to better serve clients in India and furthers its commitment to small businesses as critical drivers of global economic recovery,” he added.

TransUnion has always helped its customers thrive through solutions that deliver faster, more secure access to credit and other services. The partnership with OPL will enable TransUnion to play a larger role in expanding India’s digital lending ecosystem, widening the distribution of TransUnion solutions and services to the MSME market which comprises over 63 million enterprises.

In 2020, the segment played a significant role in the national economy as the largest employment generator, adding 110 million jobs and contributing to approximately 29%[1] of India’s GDP. In addition, TransUnion will leverage its best-in-class analytical capabilities to build products and services that enhance the OPL platform and enable more accurate decision making by lenders.

Ms. Renu Sud Karnad, Managing Director – HDFC Ltd said: “We are delighted to partner with OPL. The team has developed a quick and efficient platform, digitizing loan appraisal processes. This breakthrough innovation for the MSME sector will benefit all stakeholders. The MSME sector is a major contributor to the socio-economic development of the country. Digitization of the lending process will improve customer experience and help in significant cost and time savings. This is the preferred medium of credit delivery to customers, as has been our experience as over 89% of new home loan applications are received through digital channels.”

Jinand Shah, MD & CEO, Online PSB Loan, further added, “This partnership further bears testimony to our company’s commitment to also enhance professional growth of its employees by setting new standards in the company’s work culture. Our progress also highlights OPL’s efforts towards internal HR policies and high engagement to enhance productivity and cultivate a harmonious and thoughtful work environment”

Source: Business World

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