Pepper Group to invest $150 million in India to establish fintech venture

Pepper Group, a leading global consumer finance company, has announced its plans to launch Pepper Money in India and plans to invest $150 million over the next four years in India.

This development is part of Pepper Group's strategy to expand its presence in key markets and cater to the growing demand for consumer finance products.

With $21 billion in assets under management (AUM) of self-generated loans and an additional $55 billion in AUM of third-party loans under credit management, Pepper Group has established itself as a trusted brand in the financial industry. The company operates in various countries, including Australia, the UK, Europe, South Korea, Japan, and South-East Asia, and is now committed to bringing its services to the Indian market.

To ensure the success of its Indian venture, Pepper Group plans to assemble a team of over 200 professionals who will focus on delivering localized consumer finance products. The company also intends to forge strategic partnerships, including co-branded card collaborations and co-lender arrangements, to further strengthen its market position.

Additionally, Pepper Group aims to target 150 million households in Tier 2 and Tier 3 cities, recognizing the potential of these emerging markets.

Mike Culhane, the Group CEO of Pepper, expressed confidence in the Indian economy and its growth potential. He highlighted India's young population, with 65 percent under the age of 35, and the high smartphone adoption rate of over 90 per cent among those aged 18-35. Culhane believes that India has the capacity to become one of the largest markets for Pepper Group within the next five years. Abhishek Kothari, CEO and founding member of Pepper Money India, brings his fintech experience and deep understanding of the Indian consumer to the table, playing a crucial role in establishing the Pepper Money brand across the country.

Abhishek Kothari expressed his excitement about serving young and aspiring consumers in India. He emphasized the company's vision of transforming the financial product experience for Tier 2 and Tier 3 consumers by localizing and personalizing offerings. With Pepper Money India, Kothari aims to cater to the needs of Bharat, where countless opportunities await.

Pepper Group's investment in the Indian fintech sector demonstrates its commitment to expanding its global footprint and providing tailored financial solutions to underserved markets. As the company embarks on its Indian journey, it is poised to make a significant impact on the lives of millions of consumers and contribute to the country's thriving economy.

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