Credit Saison boosts India operations with $67m

Credit Saison India (CS India), a non-banking financial company (NBFC) has raised $67 million from Japan-based parent company, Credit Saison Company. This is the second infusion of funds from the parent company, bringing the total equity infusion to $114 million. CS India, which obtained an NBFC license in 2019, has established its wholesale lending and co-lending/fintech partnership divisions.

The company has expanded into lending directly through 20 branches and digitally via its consumer loan mobile application named ‘Privo’. With an assets under management of $680 million, CS India has a focus on the consumer and small and medium-sized enterprise sectors.

Credit Saison, a publicly traded company listed on the Tokyo Stock Exchange, is the third-largest issuer of credit cards in Japan. The company, which was founded in 1951, has over 4,300 employees and a customer base of over 36 million.

It operates in six existing markets in Asia and is exploring opportunities to expand beyond Asia into new geographies. The company has evolved from a credit-card issuer to a diversified financial services provider with a presence across five segments: leasing, payments, finance, real estate, and entertainment.