Manba Finance partners with Sreesastha (Nammaloan) for South India expansion

Manba Finance Limited has announced its entry into the South Indian market through a strategic partnership with Sreesastha (Nammaloan). This collaboration marks a significant milestone in the company's national growth strategy, aiming for a phased expansion across all South Indian states.

The expansion will commence in Karnataka, followed by Tamil Nadu within the current financial year, with subsequent entry into other South Indian states planned. The partnership is led by a core team with over 100 years of combined experience in automobile lending, focusing on local market understanding and a strong credit culture.

The partnership will offer Manba's range of vehicle-finance products, including new and used two-wheeler loans, three-wheeler loans, and used car loans. The rollout will be phased, starting with Karnataka and Tamil Nadu, to ensure sound underwriting and operational readiness.

Manba's lending platform is designed for speed and simplicity, offering in-principle approvals in as little as one minute and a fully digital, paperless customer journey.

Manish Shah, Managing Director of Manba Finance Limited, expressed confidence in the expansion, highlighting the combined expertise of Sreesastha and Manba's products, balance sheet, and technology. Monil Shah, Chief Business Officer & Executive Director, emphasized a disciplined approach to building a durable, well-underwritten book in the South. V Gopalakrishnan, Director at Sreesastha Ins-Corp Advisory Private Ltd (Nammaloan), stated that the tie-up aligns with their vision of bridging the gap between financial products and underserved customers in South India.