MyMoneyMantra to add new branches in tier 3 & 4 cities

Raj Khosla

INDIA’s largest Financial Services Marketplace, MyMoneyMantra.com (MMM), continues to cater loans to under-served Indians by spreading out its Phy-Gital presence in Tier 3 & 4 cities. The Pan-India network of 100+ branches across 14 states allows MyMoneyMantra to offer a choice of making offline or online loan application as per customer’s convenience.

The 30-year-old consumer finance marketplace has served more than 70 Lakh customers. Presently MyMoneyMantra offers a wide range of financial products from more than 100 banking partners in India. The company is witnessing an exponential increase in demand for Loans and Credit Cards from small towns.

In order to fuel its next phase of growth through expansion in Non-Metros, MyMoneyMantra plans to aggressively add new branches in Tier 3 & 4 cities and will continue end-to-end fulfilment of customers’ needs Phy-Gitally. MyMoneyMantra has been clocking impressive year-on-year growth of over 30 per cent and is targeting to maintain the growth despite Covid disruption.

MyMoneyMantra is India’s largest Phy-Gital (Physical-Digital) marketplace for Personal Loans, Home Loans and Credit Cards. Over the last 5 years, MyMoneyMantra has originated $4 Billion of credit and helped millions of Indians navigate the world of personal finance.

Recently, MyMoneyMantra.com has been featured in a White Paper released by McDonough School of Business, Centre for Financial Markets and Policy, Georgetown University, USA. The White Paper titled, “FinTech & Financial Inclusion: How do FinTech firms assist clients in obtaining loans?” featuresMyMoneyMantra’s case study. It recognises MyMoneyMantra’s success with Phy-Gital channels in India for end-to-end customer fulfilment as one of the key strategies for meeting the financial gap, financial inclusion, and enhanced customer experience in developed and emerging nations.

Speaking about plans for launching new MMM branches, Raj Khosla, Founder & Managing Director, MyMoneyMantra.com said, “We have successfully delivered financial products to our customers for more than 3 decades, and have served over 70 Lakh customers till date. The Georgetown University White Paper showcases our strength as a profitable, Phy-Gital financial services marketplace with a distinct and robust business model. This year we have originated credit worth Rs 5397 crore across 60 cities with 100 financial partners.”

MyMoneyMantra continues to invest in Technology & Analytics to build & upgrade its a state-of-the-art digital platform which is powered by the MMM data warehouse hosted on AWS. MMM’s Data Analytics backed business acquisition is multiplying at 20  per cent YOY.

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