New Delhi: Volkswagen Finance Pvt Ltd (VWFPL) India on Monday introduced that it acquired a majority stake within the instantaneous lending digital platform KUWY Expertise Service Pvt Ltd on January 5, 2021. VWFPL had acquired a 25% stake within the lending agency in September 2019.Volkswagen Finance mentioned it’ll develop its new and used automobile enterprise via KUWY’s pan India community for automobile financing. The acquisition can be consistent with the Volkswagen Group’s India 2.0 technique. It can allow VWFPL to supply added worth to its customers via digital channels.
Aashish Deshpande, MD and CEO of Volkswagen Finance Pvt Ltd, mentioned, “Our funding in KUWY is strategic. We intend to make it an necessary a part of our India technique. With this acquisition, we intention to reinforce our synergies with KUWY Expertise and make it the face of VWFPL in India for retail financing enterprise.”
Supporting the multi-brand strategy of KUWY, we’re nonetheless open to additional traders – additionally below the brand new extra circumstances, he mentioned.
The financing agency mentioned its affiliation with KUWY will assist enhance effectivity in processes and scale back the mortgage processing time, making it a win-win for each the sellers and the shoppers.
VWFPL will, nevertheless, proceed to offer supplier funding and insurance coverage services and products to the Volkswagen India Group’s supplier community.
“Our platform allows every of those constituents to profit from enhanced entry to one another and to our know-how, leading to a virtuous cycle of accelerating engagement and worth creation. We consider our ecosystem will develop stronger with scale,” Ganesh Kumar, CEO, KUWY Expertise Service Pvt. Ltd, mentioned.
