Singapore-based financial services firm Pepper Group plans to invest $150 million in launching its fintech start-up, Pepper Money, in India. The company aims to bring personal finance products to Indian consumers and intends to hire over 200 people for its Mumbai office.
Facts
- Singapore-based Pepper Group will invest $150 million to launch fintech start-up Pepper Money in India.
- Pepper Money’s Indian operations will be led by Abhishek Kothari, former co-founder of Indian online lending platform FlexiLoans.
- Pepper Money already operates in Singapore, the UK, Australia, South Korea, and Spain.
- The company plans to offer personal loans, credit cards, and buy now, pay later (BNPL) offerings to Indian consumers.
- Pepper Money intends to hire over 200 people for its newly-opened Mumbai office.
- India’s large young population and high smartphone adoption rate make it a potentially significant market for Pepper Money.
- Mike Culhane, the group CEO of Pepper, believes Kothari’s fintech experience and consumer understanding will be crucial in building the Pepper Money brand in India.
- Pepper Money is part of Pepper Financial Services Group, founded in 2000, with operations across 14 countries and $76.2 billion in total assets under management.
