Online PSB loans set to sell 7% stake to AvenuesAI
Business
Big news in digital lending: Online PSB Loans (OPL) is set to sell a 7% stake to AvenuesAI.
The deal, expected to wrap up by the end of this fiscal year after regulatory checks, is all about boosting AI-powered lending and reaching more people who need credit.
OPL board clears AvenuesAI deal
AvenuesAI will become the only AI-driven platform in OPL's investor group, pretty major for tech innovation.
The board gave the green light on May 29, and Vishal Mehta (AvenuesAI's chairman and managing director) says term sheets are signed and the closing is soon.
OPL already connects with over 235 partner banks and financial institutions and has helped over 3 million MSMEs with loans; teaming up with AvenuesAI means even smarter digital lending ahead.