Lending firm Protium plans network expansion

March 03, 2023 10:07 pm | Updated March 07, 2023 02:16 pm IST - MUMBAI

Protium which provides loans against property, business loans, line of credit, and machinery and equipment finance, is planning to expand its base to cater to growing number of customers.

“We anticipate registering our physical presence with over 150 branches in over 100 cities nationwide to cater to customers that contribute to 80% of India’s GDP,” said Yogendra Singh, partner, Protium.

Currently, the company’s physical presence spans over 85 branches in over 17 states in over 65 cities. Its employee strength has grown 300% crossing the 2,200-mark within a year.

Mr. Singh said the company’s strategy of tapping into tier 2 and tier 3 cities had added to its geographical footprint.

In the current financial year, the firm said it had witnessed 160% growth in AUM and 190% growth in disbursals while maintaining a 0.44% NPA. 

“To date, we serviced more than 7 lakh customers and have disbursed loans amounting to over ₹4,500 crore and are growing steadily,” Mr. Singh said.  

He said the firm had tied up with platforms like Flipkart, Meesho, Pine Labs, Aarzoo, Swiggy and Samsung, to cater to the credit needs of merchants and consumers in the country.

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