Reliance Capital arm invests $1 million in Billionloans

Reliance Corporate Advisory Services, an arm of Reliance Capital, on Monday said it has made an investment of about ₹7 crore ($1 million) in alternative digital lending startup Billionloans Financial Services Pvt Ltd.

This is the second major startup investment, after Paytm, by Reliance Capital.

Billionloans, led by Ex-Infosys CFO V. Balakrishnan, is a technology-enabled financial services company focused on providing flexible and affordable options to individuals and small businesses that have so far found it difficult to access loans from the traditional banking system.

The company was founded by Rangan Varadan, a serial entrepreneur who has also co-founded MicroGraam — an online micro-lending platform, along with other professionals in the finance and IT industry.

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