In a recent development, Shrinithi Capital, a Chennai-based financial company that specializes in commercial vehicle and two-wheeler loans, has announced a collaboration with Shriram Finance, a Non-Banking Financial Company (NBFC) in India, through a revenue-sharing partnership. The agreement was formalized by Sellamani, Founder and CEO of Shrinithi Capital, and Simon Mahendran, Chief Business Head of Partnership Business at Shriram Finance Ltd.
Despite being established in 2020, Shrinithi Capital has rapidly amassed an impressive asset under management of 304.53 crores, positioning itself as a prominent player in the financial services sector. The collaboration with Shriram Finance reflects the company’s strategic approach to expanding its market presence.
As part of its expansion strategy, Shrinithi Capital has unveiled plans to increase its branch network from 50 to 80, extending its operations into Kerala, Andhra Pradesh, and Karnataka. Moreover, the recent inauguration of a regional office in Coimbatore serves as a significant milestone for the company, with the intention of establishing five additional branches in the vicinity under the new regional office.
Expressing his enthusiasm for the collaboration, Sellamani, CEO & MD of Shrinithi Capital, emphasized the significance of the partnership with Shriram Finance in creating opportunities for small businesses and marginalized segments to access micro business loans.
Founded with a primary objective of providing financial services and facilitating access to finance for individuals from diverse backgrounds to acquire various modes of transport, construction equipment, and farm equipment, Shrinithi Capital also aims to cater to the working capital needs of its clients.
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