At a time when fintech is the buzzword, and the likes of Paytm are looking to list, it’s little known that a couple of fintech players are already listed on the stock exchanges. These are U Gro Capital, backed predominantly by private investors, and Paisalo Digital that has the SBU group as a large investor.

In an interview to CNBC-TV18, Santanu Agrawal, deputy CEO of Paisalo Digital, and Shachindra Nath, executive chairman and managing director of U Gro Capital, spoke at length about what makes their businesses tick, their revenue model and how they look to grow and thrive in an increasingly competitive environment.

First up, Nath said, “Lending institutions like us, which are backed by sizeable capital of more than Rs 1,000 crore, we continue to see a massive collaboration opportunity with large banks. We have already partnered with Bank of Baroda and soon, we will go live with State Bank of India (SBI).”

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According to him, banks are partnering with fintech companies to expand their reach. “I do not see fintech as a threat to conventional banks,” Nath said.

Nath further said that every large banking institution is looking to partner with fintech companies, but he does not expect fintech to become full-fledged banks, going ahead.

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Meanwhile, Agarwal said, “Our asset under management (AUM) is currently around Rs 2,300 crore and out of this, close to Rs 200 crore is in co-lending.”

For the entire discussion, watch the video

(Edited by : Dipika Ghosh)

First Published:Aug 31, 2021 1:46 PM IST