Volkswagen Finance picks up 25% stake in Kuwy Technology

John Parker - September 21, 2019

On Wednesday, Volkswagen Finance mentioned that it has acquired around 25% stake in Kuwy Technology Service based in Chennai which is a digital platform for instant lending. As the part of this deal, this company, which is known to support the Volkswagen Group’s existing customers in the country by facilitating insurance and financing solutions, will have complete access to the Kuwy’s complete network in the country with regards to the element of car financing.

Aashish Deshpande, the CEO and MD of the company mentioned that Volkswagen Finance is always enthusiastic to try to bring in more value for the offerings. This particular association serves as the step towards perfect evolution for the journey of the consumer in digital space.

The aim of the company is to cater an agile and simplified solution for the customers of the company added Deshpande. However, no financial details were shared with regards to this acquisition. The association of Kuwy with Volkswagen Finance will surely improve the efficiency of the processes while reducing the processing time for loan. This makes it the best win-win situation for both the customers and the dealers.

The partners shall also offer insurance, finance, and product warranty for the customer group of Volkswagen over the Kuwy platform.

John Parker is a finance writer and journalist based in the Outer Banks, NC.

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