Shrinithi Capital partners with ESAF Small Finance Bank, BFSI News, ET BFSI

Chennai: Shrinithi Capital, which specialises in commercial vehicle and two-wheeler loans, has announced a partnership with ESAF Small Finance Bank. The collaboration is part of Shrinithi Capital’s expansion plans to enter the small truck transporters and owner cum drivers loan disbursement segment.

The Chennai based NBFC is looking at doubling its Assets under Management (AUM) to Rs 600 crore by next year. A statement here said, it (Shrinithi Capital) aims to increase the branch network from 50 to 80, extending operations to Kerala, Andhra Pradesh and Karnataka.

S Sellamani, MD & CEO, Shrinithi Capital said, “The partnership with ESAF Small Finance Bank aligns with our expansion goals, particularly focusing on customers at the bottom of the pyramid, who face challenges in securing loans from traditional banks and leading NBFCs. As a part of our expansion process, we plan to open 30 more branches in South India and aim to double our AUM from Rs 300 crore to Rs 600 crore by 2024.”

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