Paisabazaar to focus on south for physical expansion

Chennai: Digital-focused financial marketplace and free credit score platform Paisabazaar is looking at the south for its physical expansion. It is setting up retail stores in Bengaluru and Chennai as part of plans to establish 100 outlets over the next two years. Currently, the company operates retail stores in the Delhi-NCR region.

While credit remains the company's core business, it has also diversified into bonds, fixed deposits, mobile recharges and bill payments. "Chennai, Bengaluru and Hyderabad have always been key markets for us. With the success of our stores in the NCR, it seemed only natural to extend our retail initiative to southern cities," Santosh Agarwal, CEO of Paisabazaar, told TOI.




Part of PB Fintech, its first store in south India will open in Chennai in the first week of May, followed by two more outlets in the city. Three stores are planned in Bengaluru, offering products such as business, home and personal loans, along with credit cards. Additionally, Udyam registration, GST registration and GST filing services will be available at these outlets.

Asked about the focus on expanding its physical footprint, she said, "Digitisation will remain core to our strategy, but we believe there are still large segments, such as small business owners, who may not be comfortable making financial decisions digitally. Our aim is to reach these consumers through offline assistance."
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