L&T Finance partners with Kunal Shah's CRED to offer personal loans

Larsen & Toubro-owned NBFC firm L&T Finance has now entered the co-lending space through a strategic partnership with Kunal Shah-led fintech unicorn CRED.

As part of this partnership, L&T Finance will offer unsecured personal loans to CRED members, aiming to leverage CRED’s affluent customer base and the digital lending expertise of Newtap Finance Private Ltd.

Providing credit to CRED users

Under this new arrangement, CRED members will have access to credit through the CRED Cash product, facilitated by L&T Finance along with its co-lending partner Newtap Finance.

The process is designed to be swift, allowing members to secure loans within minutes.

Additionally, the loans come with flexible repayment tenures and competitive interest rates, catering to the specific needs of CRED members who have high credit scores and a positive repayment history.

“We are excited to announce our partnership with CRED. The association marks LTF’s entry into the co-lending space which will leverage the strength of LTF’s extensive experience in the financial services sector, CRED’s large affluent customer base and strong reputation for creditworthiness, and NewTap’s expertise in digital lending and risk assessment,” said Sudipta Roy, Managing Director and CEO of L&T Finance.

Kunal Shah highlights partnership value

“This partnership is an opportunity to empower our members—those with high credit scores, impeccable repayment histories, and affluence—with credit from one of the nation’s most reputable lenders," said Kunal Shah, CEO of CRED.

"It isn’t just about providing credit; it’s about fostering a cycle of financial virtue, where high-quality institutions meet high-quality customers, driving progress for both the community and the industry," Shah added.