Credenc has announced its acquisition of the digital content platform ObserveNow. The company said that the acquisition will further strengthen its relationship across all verticals of Credenc by consolidating ObserveNow’s digital network and partners.
Credenc, founded in 2017 by Avinash Kumar and Mayank Batheja, is a one-of-a-kind platform that finances deserving students’ college fees by insuring their employability rather than their families’ financial resources. With its future income prediction algorithm, Credenc is disrupting the domestic higher education finance industry, ensuring that our country’s brightest students do not go without funding for their higher education. The company imparts financial solutions in three easy steps:
- A simple online application to upload documents
- An assessment to test soft and hard skills to assess employability, and
- Fastest approval to choose the best deal with the assistance of expert executives.
The acquisition of ObserveNow will help Credenc to sanction more education loans. The deal will help the company to diversify its processes. It will help the brand to reach out to numerous educational institutions and students looking out for education loans.
The ObserveNow media platform covers a wide range of topics in India, including technologies, commerce, societal problems, and human resources, the economy, and startups.
Commenting on the acquisition Mr. Mayank Batheja, Co-Founder, Credenc said, “This day marks a pivotal moment for Credenc as we welcome the team of ObserveNow on board. ObserveNow has done praiseworthy work in the last two years in the education field and Human Resources. Credenc places great importance on their connections in the business. We are determined to raise the bar on imparting financial assistance to students and professionals across India.”
The statement also said that “The association with ObserveNow will help in creating new business avenues for Credenc by reaching out to colleges and students across India through its market knowledge and a strong network of partners.”
Credenc further stated that the agreement will assist the firm in achieving a loan book of Rs 3,000 crore by 2025, as well as allowing for more education loans.
ObserveNow will continue to operate as an independent digital content arm inside the Credenc company, but the acquisition signals Credenc’s expansion into new markets.
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