Karnataka and Tamil Nadu to lead the entry this financial year, ahead of a phased expansion across other South Indian states — powered by a leadership team carrying over 100 years of combined automobile-lending experience
MUMBAI: Manba Finance Limited, one of India’s established vehicle-financing NBFCs, today announced its entry into the South Indian market through a strategic partnership with Sreesastha (Nammaloan). The partnership marks a significant milestone in Manba’s national growth journey and lays the foundation for a phased expansion across all South Indian states in the period ahead.
The collaboration will begin in Karnataka, followed by Tamil Nadu within the current financial year, with a phased entry into other South Indian states planned thereafter. As part of this effort, the partnership has identified over 100 potential locations across these regions, which it intends to activate progressively in the coming periods in line with market readiness and operational priorities.
What distinguishes this partnership is the depth of expertise behind it. The venture is led by a core team of four senior leaders who together bring more than 100 years of combined experience in automobile lending spanning origination, credit, collections, and on-ground distribution across the vehicle-finance value chain.
This concentration of domain knowledge is intended to give the South India business a running start: local market understanding, established dealer and ecosystem relationships, and a disciplined credit culture from day one.
The partnership will offer Manba’s range of vehicle-finance products in the region, with a sequenced launch beginning with the company’s core strengths:
- New two-wheeler loans
- Used two-wheeler loans
- Three-wheeler loans
- Used car loans
The phased approach starting with Karnataka and Tamil Nadu and a focused product set, then widening both geography and offering over time is intended to build the business on a foundation of sound underwriting and operational readiness rather than speed alone.
Underpinning the offering is the customer experience Manba is known for. The company’s lending platform is designed to deliver in-principle approvals in as little as one minute and a fully digital, paperless customer journey from application through documentation to disbursal.
For South India’s customers and dealer partners alike, this means faster decisions, less friction, and a financing experience that keeps pace with the point of sale a meaningful differentiator in a market where speed and convenience increasingly decide where business goes.
Commenting on this Manish Shah, Managing Director, Manba Finance Limited said “South India is one of the most dynamic vehicle markets in the country, and entering it the right way matters more to us than entering it quickly. Partnering with Sreesastha (Namma loan) gives us something money can’t buy on its own a team that has financed vehicles in these markets for decades. That experience, combined with Manba’s products, balance sheet, and technology, is what gives us confidence in this expansion.”
Monil Shah, Chief Business Officer & Executive Director, Manba Finance Limited said “This is a big step for Manba, and we intend to do it with discipline. We are starting in Karnataka with the products we know best, and we will expand state by state as we earn the right to. Our focus is on building a durable, well-underwritten book in the South not a quick one.”
V Gopalakrishnan, Director, Sreesastha Ins-Corp Advisory Private Ltd (Nammaloan) told “We are delighted to associate with Manba Finance, a leader known for its robust product suite and customer-first approach. This strategic tie-up aligns perfectly with our vision of bridging the gap between quality financial products and underserved customers in South India. Our team’s decades of hands-on experience in tech enabled retail finance distribution will help accelerate high quality disbursements while upholding the highest standards of service and compliance. Together, we aim to empower individuals and businesses with reliable credit solutions that drive growth and financial inclusion.”
