Joint Venture9 Apr 2025, 10:47 pm
U. Y. Fincorp Ltd Expands Business into Small Ticket Size Personal and Business Loans with Fintech Cloud Private Limited
AI Summary
The Board of Directors of U. Y. Fincorp Ltd, at its meeting held on 9th April, 2025, inter alia considered and approved a contractual joint venture agreement with Fintech Cloud Private Limited (FCPL). The agreement is for the expansion of U. Y. Fincorp's business into the field of small ticket size Personal and Business Loans under its new brand name ‘FUNDOBABA’. The company will invest Rs. 20,00,00,000/- (Rupees Twenty Crore Only) in this expansion, which will be managed by FCPL. The investment will be locked in for a period of three (3) years from the date of investment.
Key Highlights
- U. Y. Fincorp Ltd is expanding its business operations under the new brand name ‘FUNDOBABA’
- The company has entered into a contractual joint venture agreement with Fintech Cloud Private Limited (FCPL)
- The agreement is for the expansion of business into small ticket size Personal and Business Loans
- The investment of Rs. 20,00,00,000/- will be locked in for three years
- FCPL will manage the expanded business operations