Bengaluru, 29^th September 2025: Bank of Baroda (Bank), one of India’s leading public sector banks, and IIFL Finance, a leading Non-Banking Financial Company (NBFC), have entered into a Co-Lending partnership to offer gold loans primarily targeted at underserved and unbanked customer segments across semi-urban and rural India. The collaboration aims to provide small borrowers with faster, easier, and more affordable credit for agricultural and allied activities.

Under this agreement and in line with the Reserve Bank of India’s guidelines on co-lending, IIFL Finance will originate and service the gold loans, while Bank of Baroda will participate in the funding, with joint underwriting by both parties, enabling a seamless and scalable credit delivery mechanism. The partnership will leverage the Bank’s robust capital base & access to low-cost funds and IIFL Finance’s deep reach, significantly enhancing financial inclusion.

The partnership will be driven by a fully tech-integrated process, enabling real-time data sharing between both institutions, ensuring transparency, efficiency, and customer protection while minimising reconciliation errors. The agreement also provides for co-branded documentation and shared servicing responsibilities, ensuring a seamless experience for customers.

Ms. Kirti Timmanagoudar, Head of Co-Lending at IIFL Finance said, “This partnership marks a pivotal step in our mission to democratise access to credit. By joining hands with Bank of Baroda, we are not only expanding our footprint into underserved markets but also ensuring that customers benefit from competitive interest rates, faster loan disbursals, and a tech-driven experience. It’s a win-win for both institutions and the communities we serve.”

Shri Madhur Kumar, Chief General Manager, Bank of Baroda said, “The co-lending agreement with IIFL Finance aligns with our commitment to bridge credit gaps by reaching out to customers who have traditionally been outside the ambit of formal banking and fostering inclusive growth across India’s diverse economy. This partnership reiterates our focus on leveraging technology and collaboration to build a more resilient and accessible lending ecosystem that empowers every borrower.”

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Bengaluru, May 13, 2025: IIFL Fintech Fund, India’s leading early-stage fund dedicated to fintech sector, today said that it has exited the financial data analytics firm – Finarkein Analytics – at more than double the valuation in  three years of investment. This is IIFL Fintech Fund’s second exit after TrustCheckr, a fraud detection firm, which was bought by global caller identification app Truecaller in October 2023. IIFL Fintech Fund made ~80% returns on TrustCheckr investment within 18 months, when it was sold.

Finarkein’s data and workflow orchestration platform allows enterprises to co-create data products on India’s emerging digital public infrastructure (DPI) like the account aggregator (AA) ecosystem, ONDC-Financial Services, OCEN and more.

Ms. Mehekka Oberoi (“Fund Manager”) said, “With Finarkein also, we went beyond the business aspect to enhance their overall product and platform to ensure faster business adoption. Attaining a more than 100% return and ensuring liquidity to our investors underscores our commitment to ensuring our investors make good returns. We had earlier successfully exited TrustCheckr within 18 months The fund is committed to giving cashflows to investors from time to time”.

IIFL Fintech Fund-Series II recently also announced the first closure of the fund. They have successfully garnered more than Rs 200 Crore so far for its IIFL Fintech Fund – Series – II, The fund is garnering interest as it aims to invest in the next generation Fintechs of India including in the generative artificial intelligence space.

IIFL Fintech Fund was set up in 2021, with an objective to invest in early-stage Fintechs that IIFL as a group could collaborate with as well.  Over the last three years, the IIFL Fintech Fund boasts of 14 investments made across various segments in fintech. The portfolio comprises of – Leegality, FinBox, DataSutram, Finarkein Analytics, Finvu, Trendlyne, Insurance Samadhan, Xtracap Finance, Castler, Vitra.Ai, EasyRewardz, Multipl, Riskcovry, TrustCheckr (sold to True Caller).

The fund’s portfolio has delivered a 26.2X revenue growth, in the last three years, 40% of the portfolio is EBIDTA positive, and the fund boats of 0% write-off/Deadpool.

 Opportunities in Indian Fintech ecosystem is significant as financial services penetration in India remains low. The gap between major economies and India across segments – insurance, lending, neo-banking, mutual fund assets is anywhere in the range of 3-5X. This gives enough headroom for growth in Indian Fintech space.

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