AvenuesAI Joins Hands with Online PSB Loans Limited in Landmark AI-Driven Digital Lending Deal

In a significant development at the intersection of digital lending and artificial intelligence, Online PSB Loans Limited (OPL), India's largest public-sector-backed digital credit platform, is in advanced discussions to bring AvenuesAI Limited on board as a minority stakeholder through a secondary share sale.

On Friday, AvenuesAI Limited announced via stock exchange filings that its board has approved acquiring a 7% minority equity stake in OPL. Vishal Mehta, Chairman and Managing Director of AvenuesAI Limited, stated to ANI that term sheets have been signed, and the deal is expected to be finalized within the current fiscal year, pending statutory approvals.

Industry experts believe this move will position AvenuesAI among a prestigious group of shareholders in OPL, which already includes top Indian financial institutions like the State Bank of India, HDFC Bank, and others. Post-deal, AvenuesAI will be the sole AI-led platform in the consortium, offering a unique mix of payment infrastructure and a vast digital consumer base.

Besides financial investment, AvenuesAI aims to leverage its expansive merchant ecosystem to enhance OPL's lending engine. For AvenuesAI, the deal represents a strategic entry into India's public-sector credit framework. AvenuesAI's AI models and merchant network are poised to seamlessly integrate with OPL's large-scale lending operations.

With India's digital lending infrastructure expanding swiftly, the amalgamation of AI, payment technologies, and public-sector banking is paving a transformative path for credit access among underserved populations.

According to OPL's website and LinkedIn updates, the platform collaborates with over 235 banks and financial entities, has sanctioned loans worth more than INR 3.97 trillion, and supports over 3 million MSMEs. OPL has developed an expansive range of fintech solutions, powering multiple large-scale lending technology platforms and government financial initiatives.

(With inputs from agencies.)