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Tata Capital, the financial services company of the Tata Group, has tied up with Biz2Credit, an online resource for small business finance, to lend to small- and mid-sized companies.
According to a press release, Tata Capital will use the acquisition channels on Biz2Credit’s small business lending marketplace. Tata Capital has a total book size of over ₹42,000 crore and Biz2Credit has provided more ₹8,500 crore ($1.3 billion) in finance to small- and mid-sized companies.
In addition, the release said, Tata Capital would get access to a range of Biz2Credit’s offerings, including data and risk analytics through a patented system to innovatively fund small business transactions.
The release quoted Govind Sankaranarayanan, COO – Retail Business and Housing Finance, Tata Capital, as saying that the lack of organised credit to small business owners is a gap in the Indian financial market and an inhibiting factor for growth of entrepreneurship.
Tata Capital hopes to address this gap with its focussed digital offerings, he added.
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