Volkswagen Finance has picked up 25 percent stake in Kuwy Technology Service, a Chennai-based online lending platform. Through this deal, Volkswagen Finance will now have access to Kuwy’s car financing network pan-India.
Part of the Volkswagen group, the company supports the customers in India by providing financing and insurance solutions. Aashish Deshpande, the Managing Director, and CEO said, “At Volkswagen Finance, we always try to add more value to our offerings and this association is a step towards the evolution of the consumer journey in the digital space.”
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Currently, Volkswagen Financial Services has over 16,267 employees worldwide whereas Kuwy Technology has employed over 72 people in 70 different locations in the country.
The deal is signed in a view of offering a simplified and agile solution to the customers. The association between the two companies will help Volkswagen finance improve their efficiency and also cut-down the loan processing time. Under the partnership, the customers will be offered finance, insurance, and warranty products on the Kuwy platform.
Talking about the deal, B Ganesh Kumar, the CEO of Kuwy technology Service said, “We are confident of delivering comprehensive digital solutions to the Volkswagen Finance network and aiming for mutual growth in the digital space.”
Currently, Volkswagen Financial Services has over 16,267 employees worldwide whereas Kuwy Technology has employed over 72 people in 70 different locations in the country.
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