MAS Financial Services rose 1.61% to Rs 770 after the NBFC specialized in MSME financing, announced that it has partnered with CredAvenue for their co-lending platform.
MAS Financial Services said it intends to utilize the platform for partnering with multiple originators and also plans to utilize the full stack discovery, credit, operations, and risk management modules available on CredAvenue's co-lending platform.Commenting on the development, Kamlesh Gandhi, founder and managing director of MAS Financial said, "We, at MAS are a staunch believer of collaboration in the BFSI space to accelerate financial inclusion. CredAvenue's co-lending platform is a game-changer in this space by providing an end to end, scalable, fully integrated tech solution for all participants. We look forward to further expanding our network of NBFCs, fintechs, HFCs, and others through the platform."
CredAvenue is India's leading tech enabled online debt platform connecting corporate borrowers/originators with lenders and investors. The platform currently has over 1000+ corporates, 500+ lenders and has facilitated debt volumes of over Rs 65,000 crore.
MAS Financial Services is a Gujarat-headquartered NBFC with more than two decades of business operations. The company's business and financing products are primarily focused on middle and lower income customer segments spread across urban, semi urban and rural areas, and including formal and informal sector.
The company's consolidated net profit fell 1.8% to Rs 36.94 crore on 7.4% decline in net sales to Rs 156.52 crore in Q1 FY22 over Q1 FY21.
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