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Sep, 22 2018

Andromeda Announces Strategic Alliance with Biz2Credit to Digitally Enhance its Indian operations

The collaboration will enable the company to offer a similar basket of services in India through Andromeda's expansive sales network.

Andromeda Pvt Ltd, one of India's largest loan distributors, has announced a strategic alliance with Biz2Credit, a US-based leading online fintech marketplace and platform for business funding. The collaboration will facilitate Andromeda to leverage Biz2Credit's financial services technology and patented analytics platform to deliver an innovative and convenient lending experience for borrowers in India.

Andromeda is aiming at disbursal of loans worth Rs 18,000 crore in the current financial year. The alliance with Biz2Credit is an important milestone in this direction. The collaboration will enable the company to offer a similar basket of services in India through Andromeda's expansive sales network.

Further, Biz2Credit will add to the organization's efficiencies through its hyper-digitalized module. The platform will enable borrowers to complete all documentation pertaining to the loan application steps digitally.

V Swaminathan, Founder and CEO of Andromeda, said, "Andromeda has been a disruptor since its inception. The alliance with Biz2Credit is a result of the same ethos: we have come together to disrupt lending markets in India for better customer service levels. The partnership will witness Andromeda leverage Biz2Credit's patented technology for its expansive network in India."

Rohit Arora, CEO & Co-founder of Biz2Credit, stated, "The collaboration with Andromeda marks our entry into the Indian markets and is an important milestone for Biz2Credit. The alliance with one of the most trusted names in the commercial lending segment will create significant value for the customer."

Suresh Mahalingam, Director of Andromeda, also said, "Our industry leadership is a result of the exemplary service levels rendered by our team. However, as the industry evolves, an offline customer strategy alone cannot respond to intensifying competition. It is imperative for organizations to have a smart digital customer support strategy. The collaboration with Biz2Credit will plug this gap in our service strategy and further sharpen our competitive edge by providing 24X7, mobile-responsive service support to customers."

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