New Delhi: Reliance Corporate Advisory Services, an arm of Reliance Capital, on Monday said it has made an investment of about Rs7 crore ($1 million) in alternative digital lending startup Billionloans Financial Services Pvt. This is the second major startup investment, after Paytm, by Reliance Capital. The investment is in line with RCap’s strategy to expand its consumer lending business across platforms. Billionloans plans to initially focus on providing educational loans, affordable housing loans and personal loans to individuals and business loans to SMEs. The deal was led and structured by Reliance Wealth Management (the wealth management arm of Reliance Capital).

Source: Mint July 03, 2017 09:45 UTC