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The company has been looking for large acquisitions since it pivoted its strategy over the past two months from minority transactions 'significant minority' or full-control deals.
The digital lending sector in India is experiencing an inflection point after years of challenges. Industry-level NPAs are decreasing, credit demand is increasing, and investors are showing interest in the sector again. Fintechs have dominated the unsecured lending space, with the market share of fintech lenders in the personal loans sector increasing from 13% in 2018 to 47% in 2023.
Following the acquisition, agritech startup MITRA is now a wholly-owned subsidiary of Mahindra & Mahindra (M&M)