Mumbai, Apr 7 (PTI) OPL, a digital credit infrastructure company, has received funding of about Rs 80 crore from Nabard and HSBC, officials said on Monday.

The funding will be used to drive innovation in digital ecosystems, according to a statement.

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The statement didn't specify the funding amount, but officials pegged it at around Rs 80 crore for a 10 per cent stake.

Nabard's chairman K Shaji said the apex institution for rural development is committed to leveraging technology to enhance financial inclusion and promote sustainable growth in rural India.

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"This partnership represents a significant step towards achieving our strategic goals," he added.

HSBC's group head for ventures Moran Levinovitz said the investment in OPL is a step forward in its mission to enhance digital lending capabilities in India.

A senior representative from OPL said Nabard's expertise in rural digitisation and HSBC's global financial acumen will help accelerate innovation, enhance credit accessibility, and transform the lending ecosystem.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)