top of page

Rupyy Expands into Personal Loans to Boost Revenue Beyond Auto

Rupyy, the digital lending platform of CarDekho Group, has ventured into the personal loan market to diversify its offerings and increase revenue streams. This move comes after successful pilot programs launched in November 2023.

Rupyy intends to focus on disbursing smaller personal loans, targeting amounts below Rs 40,000. This strategy aims to expand their user base to 40-50 million. Following the pilot phase, Rupyy will continue operating in "discovery mode" for personal loans. This likely includes introducing larger loan options exceeding Rs 2 lakh in the future.

Currently, Rupyy offers personal loans through co-lending partnerships with established banks like HDFC, ICICI, Axis, Kotak Mahindra, and YES Bank, alongside their own NBFC arm. Launched in 2022, Rupyy initially focused on used car financing and personal loans. The company boasts strong reach across India with a presence in over 1,500 locations.

CarDekho Group's revenue has seen significant growth, nearly doubling to Rs 2,331 crore in FY23 from Rs 1,600 crore the previous year. This growth is attributed to Rupyy's performance, alongside CarDekho's insurance arm, InsuranceDekho, and its financing ventures in Southeast Asia.

Rupyy's entry into the personal loan market aligns with the booming Indian digital lending sector. This sector is projected to reach a staggering $720 billion by 2030, fueled by a 22% CAGR. This growth is driven by the rising number of digital payment users in India, expected to surpass the US, UK, and Germany by 2027.

"We already hold a significant market share in the pre-owned vehicle loan segment," said Rupyy co-founder and CEO Namit Jain to Moneycontrol. "Our goal is to broaden Rupyy's scope beyond car financing and establish it as a comprehensive financing platform."


Bình luận

bottom of page