Transwarranty Finance Limited receives Rs.15 Cr credit facility from IDFC First Bank for Digital Lending

Transwarranty Finance Limited, an RBI licensed NBFC listed on NSE and BSE, has received a credit facility of Rs.15 Cr from IDFC First Bank for its digital finance platform 'Oroboro'. Launched 4 years ago, Oroboro provides fully compliant digital financial services to underserved segments, including small businesses loans and consumer loans for mobile phone purchases. The company has served around 60,000 customers and disbursed around INR 100 crores in the last 4 years, and is poised to disburse 23,000 loans amounting to INR 38 crores in the current financial year, registering a growth of around 70% over last year. Oroboro uses revenue-based underwriting and has a technology stack and business rule engine that approves a loan digitally in 10 minutes. The platform has potential to reach around 14 lacs Micro and Small businesses/ entrepreneurs pan India.