Snapdeal acquired RupeePower to launch financial service [ Current Affairs ]
Snapdeal is the largest online marketplace in the India which announced to acquire RupeePower and a leading digital financial products distribution platform for exploration of financial service. Snapdeal (e-commerce) will now offer consumers a financial services marketplace, a first of its kind initiative in the e-commerce industry.
- Both companies will endeavor to digitally organize the fragmented financial services market by integrating these services onto the Snapdeal platform.
- Snapdeal e-commerce Company speared in all part of India and it reach to consumers, robust technology platform and deep consumer insights while RupeePower’s deep technical integrations in information systems of the financial services industry will create a powerful combination.
- RupeePower is providing a digital distribution platform for loans, credit cards and other personal finance products. With its credit comparison, matching and processing infrastructure and strong affiliation with banks and NBFCs (non- banking financial companies).
- In 2011, RupeePower was founded and it is a pure digital financial distribution platform and marketplace, matching borrowers and lenders in the retail loans space for loan products.
- Customers (service is free) are shown the best loan and card offers for comparison and further matched with the bank’s criteria.
- Published on: April 6, 2015