MAS Financial Services Limited (MAS Financial) (BSE: 540749, NSE: MASFIN), specialized in MSME financing, announced today that it has partnered with CredAvenue for their co-lending platform.
MAS Financial Services intends to utilize the platform for partnering with multiple originators and also plans to utilize the full stack discovery, credit, operations, and risk management modules available on CredAvenue's co-Lending platform.
Commenting on the development, Mr. Kamlesh Gandhi - Founder and Managing Director, MAS Financial said, "We, at MAS are a staunch believer of collaboration in the BFSI space to accelerate financial inclusion. CredAvenue's Co-Lending Platform is a game-changer in this space by providing an end to end, scalable, fully integrated tech solution for all participants. We look forward to further expanding our network of NBFCs, fintechs, HFCs, and others through the platform."
Mr. Gaurav Kumar - Founder and CEO, CredAvenue said, "We are excited about this partnership and believe this will help demonstrate the true potential of collaboration in the BFSI sector. Our platform clubs a robust discovery model with a fully digital operations solution which makes it an inherently scalable model. One-One partnership models are restrictive from a scale perspective. For BFSIs looking to explore sizeable number of partners with a quick golive TAT, the platform based approach which we offer is the only viable solution. MAS has been a pioneer in adopting partnership based, digital first processes and we are happy to further aide this."
Shares of MAS Financial Services Limited was last trading in BSE at Rs. 759.9 as compared to the previous close of Rs. 758.9. The total number of shares traded during the day was 1082 in over 301 trades.
The stock hit an intraday high of Rs. 766.8 and intraday low of 753. The net turnover during the day was Rs. 820718.