Global consumer finance company, Pepper Group will invest $ 150 million over the next four years to establish a fintech in India under its Pepper Money brand. 

Pepper Group manages $21 billion in assets under management (AUM) of self-generated loans via its Pepper Money brand, and a further $55 billion in AUM of third-party loans under credit management via its Pepper Advantage brand. The Group is present across markets like Australia, the UK, Europe, South Korea, Japan and South-East Asia and it is now committed to providing services in the Indian market. 

The company aims to hire a 200+ team to deliver consumer finance products that embed a localized approach to the market. It will also build a strong network of strategic partnerships, including co-branded card partnerships and collaborations with co-lenders. In addition to this, the company will target 15 crore households from Tier 2 and Tier 3 cities. 

Mike Culhane, Group CEO of Pepper said, “Over the last 23 years, Pepper Money has remained committed to serving the underserved, building a customer base of 2 million across multiple geographies. We are extremely confident about the Indian economy, which has been among the high-growth performers in recent years. With 65 percent of the population under 35 years of age and over 90 percent smartphone adoption between 18-35 years, India has the potential to become one of the largest markets for us in the next 5 years. Abhishek’s fintech experience and deep understanding of the consumer will be instrumental in building the Pepper Money brand across India."

Abhishek Kothari, CEO and founding member of Pepper Money India added, “I am excited to build this for Bharat which is home to many young and aspiring consumers. With Pepper Money India, our vision is to transform the experience of Tier 2 and 3 consumers by localizing and personalizing financial products for them.”