EarlySalary looks to close six more deals after HDB tie-up to fuel growth
Consumer lending platform for working professionals EarlySalary said that it expects six more deals to take place in the next one year that are in line with the deal it closed recently with Non-Banking Financial Company (NBFC) HDB Financial Services.
Akshay Mehrotra, Co-founder and CEO, EarlySalary said there are eight co-lenders on EarlySalary already apart from the company’s own platform and it expects many more to come in.
The HDB tie-up aims to build momentum in the impact categories of skill upgradation, education loans and health-care finance. The association will also facilitate building a large consumer lending book with EarlySalary, Mehrotra explained.
“With partners like this, we are going to build the AUM game which means we’re going to become a much larger financial entity,” he said. “Digital fintechs have been known to do volume but never build an AUM but now the AUM play is coming in as stability in the business model is coming in.”