After pausing its lending ambitions for a few years, food delivery major Zomato is looking to revive the service and is engaging with multiple non-banking financial companies (NBFCs) to give out working capital loans to its partner restaurants, three people aware of the developments told Moneycontrol.
As part of the deal, Zomato will also operate as a Loan Service Provider (LSP).
As an LSP, the company will source loans from its partners and disburse the amount to potential borrowers, in exchange for a fee, depending on its arrangement with the lender. This could also mean that Zomato will be responsible for collections from the end-users.
The team has been brainstorming and working behind the scenes for quite some time now, and may announce something next quarter, per sources.
