Happy Loans acquires IFMR Mezzanine Finance to expand MSME lending base
New Delhi, Apr 14 (KNN) In a latest development, Happy Loans, a digital lending acquired IFMR Mezzanine Finance Private Limited, a non-banking financial company (NBFC) to further expand its MSME lending base.
With this acquisition, happy loans will disburse more loans to micro entrepreneurs at cheaper rates and strengthen its base.
Happy Loan’s founder and MD, Manish Khera, said that the main objective of the organization is to remove the barriers that are obstructing the growth of MSME through finance provisions in India.
He said that we are happy that we are able to direct and invest our own capital into the micro-entrepreneurs lending instead of channelling the resources to chain of vendors.
In just one year, our lending platform and alliances have pushed over 10000 loans and we further promise to deliver and serve the underserved high-potential retail micro-entrepreneurs through our merchant aggregators, he added.
With the help of its 10 giant merchant partners, the Happy Loans has an access to data, information and systems of multiple micro-entrepreneurs across 400 locations in India.
With this acquisition, Happy loans is self-assured to release and fulfill their dreams and goals of rapid expansion through financial hinterland of India to spark growth and achieve their aim of targeting 1, 00,000 merchants in the coming fiscal years. (KNN/YV)