Mumbai: Rose Merc Limited, a prominent investment and marketing firm, and WTSLN Fintech Private Limited (WhatsLoan), a leading Technology Service Provider (TSP) in digital lending, have announced the signing of a strategic Memorandum of Understanding (MoU) to advance AI-driven lending solutions for banks and financial institutions. The collaboration aims to transform Priority Sector Lending (PSL) credit delivery, which traditionally suffers from high service costs and extended turnaround times.
This alliance is set to enhance financial access for farmers, consumers, and MSMEs by working closely with a wide spectrum of lenders including banks, Grameena banks, cooperative institutions (state and urban), NBFCs, HFCs, and MFIs. The partnership will focus on untapped markets in Western and Northern India, particularly Maharashtra, Gujarat, Rajasthan, Uttar Pradesh, Punjab, and Haryana.
Under the MoU, both companies will jointly innovate, develop, market, and implement digital platforms such as WhatsLoan’s NeoLending Digital Platform, Digital Kisan Credit Card (KCC) built on RBI’s Unified Lending Interface (ULI), Co-Lending models, Embedded Finance, and Loan as a Service (LaaS). These platforms aim to reduce processing costs, improve turnaround times, and expand reach to underserved segments.
Rose Merc will also explore equity investment and fundraising opportunities to support WhatsLoan’s growth and technological advancements, including blockchain-based Digital Financial Identity (DFID) and a loan marketplace tailored for Bharat’s farmers, consumers, and MSMEs.
The initiative is designed to empower unserved and underserved communities through innovative agri, consumer, and MSME lending solutions, omni-channel connectivity, and strict compliance with RBI and Government of India regulations. It is expected to build a robust order book for digital lending projects and drive significant revenue growth.
“We are excited to partner with WhatsLoan to bring cutting-edge digital identity and lending solutions to the forefront of India’s financial landscape,” said Purvesh Krishna Shelatkar, Executive Director of Rose Merc Limited. “This collaboration aligns perfectly with our vision of fostering innovation and supporting high-potential fintech companies. By focusing on Western and Northern India, we aim to bridge the gap in financial access for millions of farmers, consumers, and MSMEs, especially those from low- and middle-income groups.”
Timmana Gouda D, Co-Founder and CEO of WhatsLoan, added, “Teaming up with Rose Merc marks a significant milestone in our mission to revolutionize digital lending through technology. Rose Merc’s marketing, strategic, and investment expertise will amplify our platforms’ impact, enabling access to faster, more inclusive financial services. Together, we’re committed to scaling innovations that comply with regulatory standards and empower both rural and urban economies.”
The non-binding MoU outlines mutual benefits and includes plans for a joint working group to oversee implementation and conduct quarterly reviews. Specific projects will be formalized through definitive agreements in the coming months.
