Fino PayTech has set a target of attaining an AUM of Rs 1000 crore through its own NBFC

Mumbai based payments technology company Fino PayTech which also operates in the micro finance space has set a target of attaining Rs 1000 crore of asset under management through its own NBFC Intrepid in the next 12 months.
The company which currently operates across 74 districts in the five states of Uttar Pradesh, Madhya Pradesh, Bihar, Maharashtra and Karnataka is utilizing e-KYC for easy onboarding of fresh customers.

The payments company uses the business correspondent channel of its partner banks as well as its own NBFC Intrepid for lending to rural women borrowers through the Joint Lender’s Group model.The company will attain an AUM of Rs 500 crore through Intrepid by the end of this year.

“We will work closely with our partners in developing innovative credit products and target new customer segments in the geographies we operate in. In the next 12 months we intend to double our AUM to Rs 1000 crores by intensifying our efforts in customer acquisition and loan disbursement,” said Rajeev Arora, COO & Head of Lending business, FINO PayTech.

The company plans to penetrate deeper into the existing geographies and reach out to the financially excluded with innovative products like individual loans to MSME segment. FINO’s lending business has some of the leading banks and NBFC as partners. Some of them being SBI, IDBI, KarurVysya, YES Bank, Reliance Commercial Finance, South Indian Bank, L&T Finance, Dena Bank, TATA Capital and IFMR.