Credit Saison India

What Credit Saison India does

Credit Saison India, operating as Kisetsu Saison Finance (India) Private Limited, is a Bengaluru-headquartered non-banking financial company (NBFC) founded in 2018 that received its NBFC license in 2020. The company extends credit to Indian retail consumers and micro, small, and medium enterprises (MSMEs) through four business verticals — Wholesale, Embedded, Fintech Partnership, and Branch-led — supported by 1,400+ employees and 100+ branches across states including Maharashtra, Karnataka, Gujarat, Rajasthan, and Jammu & Kashmir. As of the latest disclosures, Credit Saison India manages an AUM of INR 20,000+ Crores, has originated 9.6M+ lifetime loans, and serves 1.9M+ active customers, with $1.7B deployed since inception.

The company earns revenue primarily through interest income on its loan book, supplemented by fees from its embedded finance and co-lending partnerships with over 20 fintech and bank counterparties (including Paytm, PhonePe, and BharatPe) and direct branch-originated lending. Its core technology platform is Pennant Technologies' pennApps Lending Factory, implemented with a February 2026 go-live that migrated 1.7M partner loan accounts, providing loan origination, servicing, and partner integration infrastructure. The company carries a AAA CRISIL rating and is backed by Japanese parent Credit Saison Japan (which led the Series A in 2019) and Mizuho Bank (which acquired a ~15% stake for INR 1,200 crore in February 2024). For FY2026, the company reported revenue of Rs 3,348.40 crore (~USD 400M) and net profit of Rs 335.57 crore.

The operating model is hybrid: branch-led direct lending to retail and SME borrowers in tier-2/tier-3 markets is balanced against a B2B2C embedded/fintech partnership book where Credit Saison underwrites or co-lends on loans originated through digital partner platforms. Cumulative capital raised since inception totals approximately USD 1.7B across ECBs and equity, including a maiden USD 300M ECB in April 2025, a follow-on USD 150M ECB in May 2025, and a USD 500M ECB in May 2026 — a capital structure that reflects both balance-sheet scale ambitions and reliance on offshore debt markets.

Name

Credit Saison India

Legal name

Kisetsu Saison Finance (India) Private Limited

Website

https://creditsaison.in

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Credit Saison India is a Bengaluru-based NBFC (founded 2018, licensed 2020) that lends to Indian retail consumers and MSMEs via 100+ branches, four verticals (Wholesale, Embedded, Fintech Partnership, Branch-led), and 20+ fintech partnerships, serving 1.9M+ active customers with INR 20,000+ Crores AUM.

Ownership category

akta.pro rank

Product category

Non-Banking Financial Services

NAICS

Sales Financing (522220), Nondepository Credit Intermediation (5222)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)

Keywords

• Non-banking financial company
• Retail lending
• MSME lending
• Co-lending
• Digital lending

Headquarters

HQ city

Bengaluru

HQ country

India

HQ region

Asia

Offices14 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Interest income on loans: Primary revenue stream earned as interest on disbursed loans across consumer (Business, Doctor, Vyapari, Small Business, Home, LAP, Micro LAP) and wholesale/embedded lending books. Rates vary by product (e.g., Business Loan from 16% p.a., Home Loan from 10% p.a., LAP from 9.75% p.a.).
2. Loan processing and service fees: Non-interest charges including processing fees, documentation charges, stamp duty, verification charges, and statutory fees collected at origination and during the loan lifecycle.
3. Penal and incidental charges: Late payment fees, foreclosure/prepayment charges, bounced payment charges, and incidental charges on loan accounts.
4. Wholesale and co-lending spread income: Net interest spread earned on capital deployed to fintech partners, NBFCs, and bank co-lending arrangements where Credit Saison funds a portion of partner-originated loans.

Pricing tiers

Go-to-market motion4 records

Distribution channels5 records

Marketing channels7 records

Core offering

Credit Saison India is a non-banking finance company (NBFC) that provides diversified credit solutions across four lending verticals: Wholesale Financing, Embedded Financing, Fintech Partnership, and Branch-led Solutions. It offers a comprehensive suite of loan products including Business Loans, Doctor Loans, Vyapari Loans, Small Business Loans, Home Loans, Loan Against Property, and Micro Loan Against Property, targeting retail consumers, MSMEs, professionals, and partner institutions.

Product overview

Credit Saison India (Kisetsu Saison Finance India Pvt. Ltd.) operates a platform-plus-modules architecture combining four B2B and branch distribution verticals — Wholesale Financing, Embedded Financing, Fintech Partnership, and Branch-led Solutions — with a portfolio of seven direct loan products: Business Loans, Doctor Loan, Vyapari Loans, Small Business Loans, Home Loans, Loan Against Property, and Micro Loan Against Property. The entire lending lifecycle (origination, servicing, collections) is delivered through a tech-led digital lending stack powered by Pennant Technologies' pennApps Lending Factory, and is complemented by the Credit Saison India App (formerly Privo) for customer self-service. The platform integrates with NSDL for PAN validation, CKYCR for KYC, and TransUnion CIBIL for credit reports, and serves 1.9 million+ active customers across 100+ branches and 1,400+ employees, with assets under management exceeding INR 20,000 Crores.

Differentiator

Problem solved

Functional benefit

Products and services

• Wholesale Financing
• Embedded Financing
• Fintech Partnership
• Branch-led Solutions
• Business Loan
• Doctor Loan
• Vyapari Loan
• Small Business Loan
• Home Loan
• Loan Against Property
• Micro Loan Against Property

Quantifiable outcome

• INR 20,000 Crores+ in Assets Under Management
• +5 more outcomes

Named customers22 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature5 records

Partnerships

13 partnerships are on record, tiered core, flagship and minor.

• Pennant TechnologiescoreTechnology or Integration · 1 January 2022Credit Saison India implemented Pennant Technologies' pennApps Lending Factory — a low-code loan origination and management platform — to automate and scale its lending operations across consumer, wholesale, and embedded financing businesses.
• Credit Saison JapanflagshipStrategic or Co-development Partner · 1 January 2018Credit Saison Japan (Kisetsu Saison Finance / Credit Saison Co., Ltd.) is the parent and promoter of Credit Saison India (Kisetsu Saison Finance (India) Private Limited). The Japanese parent provides strategic direction, governance, brand, and ongoing capital support across the four lending verticals.
• ICICI Lombard General InsuranceminorGTM or Marketing PartnerListed insurance partner providing insurance products bundled or offered to Credit Saison loan customers.
• HDFC ERGO General InsuranceminorGTM or Marketing PartnerListed insurance partner offering insurance products to Credit Saison customers.
• ManipalCigna Health InsuranceminorGTM or Marketing PartnerListed health insurance partner offering health cover products to Credit Saison customers.
• Reliance General InsuranceminorGTM or Marketing PartnerListed insurance partner offering general insurance products to Credit Saison customers.
• Star Health & Allied InsuranceminorGTM or Marketing PartnerListed health insurance partner offering health products to Credit Saison customers.
• DocOnlineminorGTM or Marketing PartnerListed wellness partner offering telemedicine/doctor consultation benefits to Credit Saison customers.
• vHealth (by Aetna)minorGTM or Marketing PartnerListed wellness partner offering preventive healthcare/telemedicine services to Credit Saison customers.
• Avanti FinanceminorChannel Partner/ Reseller/ DistributorListed partner in Credit Saison's co-lending/embedded financing ecosystem focused on underserved borrower segments.
• EarlysalaryminorChannel Partner/ Reseller/ DistributorListed co-lending partner in Credit Saison's fintech partnership ecosystem for salaried consumer credit.
• EdGrominorChannel Partner/ Reseller/ DistributorListed co-lending partner in Credit Saison's fintech partnership ecosystem.
• KrazybeeminorChannel Partner/ Reseller/ DistributorListed co-lending partner in Credit Saison's fintech partnership ecosystem for consumer credit.

Scale indicators15 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Bajaj Finance: India's largest and most diversified NBFC, offering consumer, SME, mortgage and commercial lending across digital and branch channels. Directly comparable to Credit Saison India's multi-vertical, multi-product lending model and co-lending/embedded partnerships with fintechs.
• Cholamandalam Investment and Finance: Large Indian NBFC with strong vehicle finance, home equity, SME and consumer lending books. Comparable in product breadth (secured + unsecured), branch-led distribution and growing digital/co-lending channels.
• Muthoot Finance: India's largest gold-loan-focused NBFC with a deep branch network across tier-2/tier-3 India. Comparable as a pan-India NBFC serving underserved borrowers through physical branches, with growing diversification into SME and housing finance.
• Tata Capital: Indian NBFC arm of the Tata Group offering consumer, SME, housing and rural credit, with growing digital channels. Comparable multi-vertical NBFC with branch + digital distribution, co-lending partnerships and AAA-rated balance sheet.
• IIFL Samasta Finance: NBFC focused on microfinance, affordable housing and small-business lending across India. Comparable in its focus on underserved MSME and micro-borrower segments, multi-product strategy and branch-led distribution in tier-2/tier-3 cities.
• L&T Finance Holdings: Diversified Indian NBFC with strong presence in farm, SME, housing and consumer finance. Comparable in retail credit mix, co-lending partnerships with banks, and digital transformation of loan origination.

Emerging players

• InCred Finance: Tech-led Indian NBFC focused on MSME, education and consumer lending with a digital-first model. Comparable in focus on underserved MSME borrowers, data-driven underwriting, and lending-as-a-service / co-lending partnerships.
• Lendingkart: Fintech-NBFC focused on working-capital loans to small businesses and MSMEs in India. Comparable target segment (MSME working capital), product overlap (Business/Small Business Loans), and similar rates in the 16–24% p.a. range.

Broad incumbents

• Shriram Finance: Large Indian NBFC with dominant position in commercial vehicle finance, two-wheeler loans, gold loans and SME credit. Comparable as a pan-India NBFC serving underserved retail and small-business borrowers with a branch-led model.

Others

• MoneyTap: Indian consumer-credit fintech platform listed as one of Credit Saison India's fintech co-lending partners. Included as both an embedded-finance partner and an adjacent consumer-credit player with overlapping end-customer segments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/CreditSaisonIndia
• LinkedInlinkedin.com/company/creditsaison-india
• Instagraminstagram.com/creditsaisonindia

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles21 records

Funding overview

Funding rounds6 records

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Credit Saison India