Kosuke Mori, Managing Director, Credit Saison Asia Pacific, said, “Credit Saison plans to invest significantly in India and build a loan book of US$1 billion in India over the next few years, a significant part of which will flow into the MSME sector. Our alliance with Capital Float – Credit Saison’s first SME-focused partnership in India – will be a formidable enabler for both entities to deploy a large portion of this capital towards the sector. We have also integrated closely at a technology stack and API level, enabling a seamless experience for the end-borrower.”
The partnership is also unique in that it will operate through a co-origination model. Co-lending of SME loans was pioneered by Capital Float, and has been encouraged by the Hon’ble Finance Minister as a game-changer for scaling up MSME lending. This partnership will be the first instance of a global lender teaming up with an Indian player to address this gap. Capital Float today manages the largest co-origination ecosystem in India.
Sashank Rishyasringa, Co-Founder, Capital Float, said, “Capital Float has already lent INR 8,500 Crore in digital credit across India; we plan to further lend INR 1,500 Crore to MSMEs in the next year, supported by this partnership. Together with Credit Saison, we continue to double-down on MSME segments where credit demand is severely underserved, with a particular focus on Tier 2 & 3 cities. Our focus will be on providing credit to small manufacturing & services firms, followed by small retailers using digital payment modes.”
The partnership between Credit Saison and Capital Float has gone live this month, with plans to scale up rapidly over the coming quarters.