End to End Digital Loan Processing
Press Release
Kuwy on an overdrive with market growth in digital car sales
Kuwy controls 5% of India's used car finance market by helping car dealers succeed in the new mobile-first economy by selling and financing a car to a customer online. In the last couple of years, there has been rapid innovation within the automotive industry in India. Car dealers have quickly responded to consumer preferences for a low touch buying experience. Digital car sales and finance platform Kuwy has seen its used car loan growth increase by 200% in 2022.
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Kuwy launches end-to-end digital lending platform for online car sellers
The new lending-as-a-service platform will allow car manufacturers, dealers, aggregator platforms and lenders to offer digital retailing to their customers. Riding on the ongoing digital wave and growing preference for online car purchases, Volkswagen Finance-backed automotive fintech platform Kuwy on Thursday launched ‘KUWYLaaS’, an end-to-end digital lending service for online car trading platforms.
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Accelerating Change In The Automotive Digital Lending Ecosystem
Automotive FinTech start-up KUWY has impacted the online car financing landscape by introducing automation into the process. Co-Founded in 2017 by MD & CEO, B Ganesh Kumar, the organization has integrated innovation with market needs, to offer effective and efficient borrowing options. We learn more in conversation with Ganesh Kumar, the dynamic leader at the helm of the enterprise.
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Kuwy-Automotive Retail Fintech Platform - Surging Ahead
Automotive Fintech Start-up offers effective and efficient Borrowing options. Although a comparatively new entrant in business,Kuwy has managed to snag a coveted position in tightly contested industry.
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Volkswagen Finance acquires majority stake in KUWY
Volkswagen Finance Pvt. Ltd. (VWFPL)India, part of Volkswagen Financial Services, has increased its shareholding in Chennai-based KUWY Technology Service Pvt Ltd. (KUWY) by picking up a majority stake in the latter. The company did not disclose the value of the deal and other details.
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Volkswagen Finance picks up 25 percent stake Kuwy
Volkswagen Finance Pvt Ltd, incorporated in 2009 is a Mumbai based company, which is owned by Germany’s Volkswagen (VW) financial services AG. The Company has confirmed the news of acquiring 25% stake in Kuwy Technology Service Pvt Ltd. Through this strategic alliance, VW Finance will be able to access Kuwy’s Pan-India footprint which will, in turn, consolidate the car financing network in the domestic market.
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Hassle-free, paper-less loans for used-vehicles
Chennai-based Kuwy Technology arranges loan approvals in 5 minutes flat. With over two decades of experience in the automotive industry, either selling components or two-wheelers or used-vehicles, B Ganesh Kumar, CEO, Kuwy Technology Service Pvt Ltd, knows a thing or two about the used-vehicles business. He understood that getting loans was one of the biggest hurdles that those buying used-vehicles had to face. They borrowed from family and friends or went to the informal sector, paying usurious rates of interest. Lack of penetration of formal credit was also why the used-vehicles segment was not growing as fast as it ought to.
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