Online PSB loans raises ₹50cr from HDFC holdings

Online PSB loans limited, Ahmedabad based India’s leading online lending platform, has raised investment of ₹50cr in its current round of funding led by TransUnion and HDFC Holdings Ltd. The investment will see both TransUnion and HDFC take strategic minority holdings in OPL.

OPL is an Ahmedabad based online lending platform that enables borrowers primarily MSMEs and individuals to apply for a loan online and receive in principle approval in 59 minutes or less from lending 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 environment.

OPL today has an established marketplace and also provides white label solution to leading banks and FIs for MSME and retail lending.

Jinand Shah, MD & CEO, Online PSB Loans stated, “We are excited to partner with those 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”.

Ronak Shah, Co-founder and COO, Online PSB loans added, “Together with TransUnion and HDFC Ltd. team, we will expand access to lending services and improve analytical capabilities of the clients”.