BharatPe acquires 51% stake in Trillion Loans

NEW DELHI: BharatPe has acquired a 51% stake in Trillion Loans, a Mumbai-based non-banking financial company (NBFC). Acquisition of a majority stake in the NBFC will help BharatPe address the credit gap for scores of local businesses and consumers, the company said in a statement on Tuesday.

Trillion Loans offers a range of secured, unsecured loans to small and medium enterprises besides providing consumers with a bouquet of products including gold, auto and educations loans. The deal was closed last month.

Trillion Loans will operate as an independent entity with its own team under the supervision of the board to which BharatPe has appointed three members.