AvenuesAI board approves up to 2.5% stake in Ratnaafin Capital
AvenuesAI is set to buy up to 2.5% of Ratnaafin Capital, a major nonbanking financial company, or NBFC, with a lending book exceeding ₹2,000 crore.
The goal? To build a smarter, AI-driven digital lending ecosystem by teaming up with nonbanking financial companies.
The deal got the green light from AvenuesAI's board and was announced on Friday.
AvenuesAI uses AI, Ratnaafin Capital lends
AvenuesAI will focus on using AI to distribute and manage loans, while Ratnaafin Capital, known for helping small and medium-sized businesses, handles the actual lending side.
Vishal Mehta, AvenuesAI's chairman, said this collaboration will merge their tech and payments tools with Ratnaafin's platform, making it easier for merchants to access working capital loans through services like CCAvenue and RediffPay.
AvenuesAI plans AI analytics, personalized loans
AvenuesAI also plans to roll out new AI analytics for risk monitoring and personalized loan products.