Table of Contents
Key Points
- Airtel, Bajaj Finance team up to launch India’s largest digital financial platform, targeting millions with innovative solutions.
- Partnership integrates Bajaj’s financial products with Airtel’s network, offering loans, EMI cards, and AI-driven efficiencies.
- New platform to boost financial inclusion, with six products by 2025 and services spanning 4,000 cities across India.
Airtel Africa Plc, the pan-African telecommunications provider and a subsidiary of Bharti Airtel, the Indian telecom giant led by billionaire Sunil Bharti Mittal, and Bajaj Finance, the country’s largest private-sector Non-Banking Financial Company (NBFC), have joined forces to create one of the largest digital financial platforms in India.
The collaboration aims to revolutionize last-mile delivery of financial services by leveraging their combined scale and distribution reach.
This move unites Airtel’s 370-million-strong customer base and expansive distribution network with Bajaj Finance’s portfolio of 27 diversified products and 70,000 field agents. By integrating Bajaj Finance's retail financial solutions into Airtel’s Thanks App and network of nationwide stores, the platform seeks to redefine seamless, secure financial services accessibility.
Powering financial inclusion through digital innovation
“Airtel and Bajaj Finance share a vision of empowering millions of Indians by bridging the gap in financial services delivery,” said Gopal Vittal, Vice Chairman and MD of Bharti Airtel. “We aim to transform Airtel Finance into a strategic asset for the group and a one-stop shop for our customers’ financial needs. With over one million customers already trusting Airtel Finance, this partnership strengthens our foundation for future growth.”
Rajeev Jain, Managing Director of Bajaj Finance, emphasized the significance of India’s burgeoning digital ecosystem: “This partnership leverages India’s robust digital infrastructure to drive inclusive growth, offering customers easy access to credit and financial solutions even in remote regions. Together, we aim to elevate customer experiences through AI-driven efficiencies and innovative financial products.”
Expanding product offerings to millions
The collaboration has piloted two products, with four more, including Gold Loans, Business Loans, and a co-branded Insta EMI Card, slated for launch by March 2025. By year-end, Airtel will host nearly 10 Bajaj Finance products on its platform.
The co-branded Airtel-Bajaj Finserv EMI Card offers flexible payment options for over 1.5 lakh partner stores across 4,000 cities. Users can also utilize the card for e-commerce transactions, enabling purchases of electronics, furniture, groceries, and more with tailored EMI plans.
A global telecom powerhouse
Airtel Africa expands in key markets, while parent company Bharti Airtel, led by billionaire Sunil Bharti Mittal, ranks as the world’s third-largest telecom operator, continues to command global influence. Mittal, 83rd on Bloomberg’s Billionaires Index with a $24.2 billion net worth, owns a 28 percent stake in Bharti Airtel.
The company posted $2.37 billion in revenue for H1 2024, marking a 9.65 percent decline in reported currency terms but a 19.9 percent growth in constant currency. Airtel Africa has also boosted shareholder confidence with a $100 million share buyback and a $1.2 billion lease extension with American Tower Corp. covering over 7,000 sites across Nigeria, Uganda, Kenya, and Niger.
This partnership between Airtel and Bajaj Finance signifies a robust alignment of tech and finance to address India’s financial inclusion challenge. As the companies roll out their offerings to millions, they are poised to become a dominant force in India’s evolving digital financial landscape.
