New Delhi: End-to-end car financing aggregator meriEMI financed INR 250 crore for the auto sector during 2022-23, and projects to give INR 300 crore to INR 350 crore car loans in the current fiscal.
The company brings multiple bank offers to match consumer needs under one roof. The go-to-car loan platform saves the consumer from the hassle of non–ending visits to various banks as it has tied up with various banks to streamline and ease the accessibility of car loans. They provide a clear comparison of the best possible solution and prices that allow consumers to make the right choice. Additionally, they provide one-time documentation compilation for ease of process in full compliance with the bank’s policies, thus creating a win-win situation for all stakeholders, the company said in a media release.
Deepak Khanna, Director, meriEMI, said, “Car loan segment is highly fragmented and we envision organizing it by providing the best bank offer under one roof. We strive to spread our outlets to reach the maximum number of customers in Tier 2 and 3 cities and help them get access to the best loan offers. Further, with our mediation, we intend to reduce the risk for the banks as we follow complete procedural compliance.
“Today and in the future as well we work in tandem with banks. Hence, we are able to get better interest rates that we happily pass on to our clients. Banking partners trust us as our clients are so connected with us that our defaulter list is less than 1% thus giving us huge credibility,” he added.
The platform works on its growth strategy and is looking to raise funds in FY24, with plans to allocate the funds to strengthen the technology team and aggressively grow business staying cash flow positive, the release added.
