Manappuram Finance launches digital lending app to widen reach

The platform is targeted at customers living in smaller cities and towns of India

Manappuram Finance

Manappuram Finance

BS Reporter Chennai

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Manappuram Finance has launched Ma-Money, a digital lending platform that will provide customers with all its financial products under one umbrella.

The company hopes that the app will help it to scale up its digital business and reach a wider audience. The app is targeted at customers in tier 2 and tier 3 cities. Ma-Money offers a wide range of loans, including personal, business, and consumer durables. It will also offers loans for the healthcare industry, food industry, small-scale industries, school finance to improve infrastructure, car loans, home repair loans, and farm equipment loans, among others.

"We understand that our customers lead busy lives and want a quick and easy way to access the financial products they need. With Ma-Money, they can do just that, no matter where they are or what time it is. We are always at the forefront in embracing technology to make life easier for our customers," said V P Nandakumar, managing director and chief executive officer of Manappuram Finance.

Manappuram Finance said using Ma-Money customers can apply for loans, track their applications, and manage their accounts. For customers in smaller cities and towns, Ma-Money represents a significant step forward in terms of financial inclusion, providing access to a wide range of loans and financial products that were previously unavailable to them, the company said in a statement.

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First Published: Jun 1 2023 | 1:41 PM IST

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