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CarDekho’s fintech firm Rupyy to expand into personal-loan segment

Sumit Vishwakarma
Updated On
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Amit jain

CarDekho CEO Amit Jain

Rupyy, the fintech arm of CarDekho Group, known for its digital lending in the used car financing sector, has announced its entry into the personal lending space.

The move aims to diversify the company's revenue streams beyond auto loans. In November of the previous year, the company initiated pilot projects for personal lending, targeting to significantly grow its user base.

Targeting a new customer base 

Namit Jain, co-founder and CEO of Rupyy, revealed plans to focus initially on salaried consumers, offering small-ticket personal loans under Rs 40,000. The strategy is designed to leverage CarDekho's substantial organic user base, which boasts over 40-50 million active users.


Jain emphasized the goal of transforming Rupyy into a comprehensive, integrated financing platform, moving beyond its current stronghold in car financing.

Scaling up with strategic partnerships

To facilitate this expansion, Rupyy is banking on its co-lending partnerships with leading banks such as HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra, YES Bank, and others, including non-banking financial companies (NBFCs) like Poonawalla Fincorp and Cholamandalam.

The partnership will play an important role for Rupyy as it scales its operations to include personal loans exceeding Rs 2 lakh and manages a portion of the loans through its own NBFC.

What will be the impact on CarDekho Group’s growth?

The introduction of personal lending by Rupyy is set against the backdrop of CarDekho Group's impressive revenue growth, which saw a nearly 1.5x increase to Rs 2,331 Cr in FY23 from the previous fiscal year. 

The growth is attributed to the robust performance of Rupyy and InsuranceDekho, alongside the group's financing business in Southeast Asia. The group's strategic focus on fintech solutions is part of its broader objective to achieve profitability and prepare for a potential IPO.