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API Holdings, PCHFL to offer financing solutions in health

PCHFL Finance has earmarked an initial amount of Rs 100 crore for disbursement by March 2022

Piramal Capital & Housing Finance Limited (PCHFL), the wholly-owned subsidiary of Piramal Enterprises, announced its strategic partnership with API Holdings through its digital platform Retailio – India’s largest digital B2B healthcare platform. The partnership aims at synergising respective capabilities to provide efficient and seamless financing solutions to consumers, retailers and merchants in the API Holdings’ healthcare ecosystem.

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Under this partnership, PCHFL Finance has earmarked an initial amount of Rs 100 crore for disbursement by March 2022, which will get upsized basis initial market response.

Further, PCHFL will provide solutions like Buy Now Pay Later (BNPL) for consumers and merchants, multi-collateral loans for retailers, supply chain financing, hospital financing, invoice discounting, among others. This alliance leverages the strengths of both companies, making this a winning proposition for all stakeholders, thereby expanding the reach and tapping new customers.

Jairam Sridharan, MD, Piramal Capital & Housing Finance Limited said, “We are pleased to partner with API Holdings to provide tech-enabled financing solutions to fulfil the healthcare needs of their customers. Healthcare has become one of the largest sectors in India, driven by disruptive innovation and increasing spending by consumers – as people are prioritizing health and well-being in the new normal. New age platforms like Retailio are leading the paradigm shift in the sector through impactful and scalable digital health solutions that make a real difference in the lives of people. This partnership is in is line with our strategy of expanding our retail portfolio through a mix of collaboration-led origination models and leveraging our distinguished digital lending capabilities.”

Harsh Parekh, Whole-time Director and Co-founder, API Holdings, said “By bringing together our potential synergies, we aim to provide capital to the underserved SME/ MSME segment that would in-turn help fuel growth for these businesses.”

Rohit Anand, Head – FinTech, API Holdings, said, “We share a similar vision & mission with Piramal for the sector and now look to fast track roll-outs of various innovative offerings, for our SME / MSME partners as well as our consumers.”

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