BharatPe to now offer collateral-free loans to merchants; partners with OTO Capital, Volt Money

Payment app BharatPe on Tuesday announced extending its credit offerings for its merchants to secured loans. The company will now enable secured two-wheeler loans and Loans Against Mutual Funds (LAMF) for its more than 1.3 crore merchants in the first phase through lending partners OTO Capital for two-wheeler loans and Volt Money for LAMF. The offering would be enhanced to a multi-product and multi-lender in the next phase.

BharatPe said merchants would be able to digitally secure up to Rs 2.5 lakh to buy a two-wheeler with a repayment period between 12- 48 months. For LAMF, up to Rs 1 crore credit can be raised.