In a strategic expansion into India’s burgeoning fintech sector, Mizuho Financial Group has announced its acquisition of an approximate 15% stake in Kisetsu Saison Finance (India). This investment, valued at 12 billion rupees ($145 million), signifies Mizuho’s intent to leverage Kisetsu Saison’s advanced digital lending capabilities. Kisetsu Saison, a subsidiary of the Japanese credit card giant Credit Saison, has been a pioneer in offering online loans to individuals and small businesses since its inception in Bengaluru in June 2018. With its digital-first approach, the company has successfully expanded its footprint across India, boasting a loan balance nearing 100 billion yen ($670 million).
The move reflects Mizuho’s strategic push to capture a slice of India’s expanding demand for financing, especially among those underserved by traditional banking institutions. The partnership aims to integrate Kisetsu Saison’s innovative online screening processes, enhancing Mizuho’s service offerings in a market where digital nonbank lenders are increasingly preferred. This development is part of a broader trend of Japanese financial institutions investing in India’s financial sector, evidenced by Sumitomo Mitsui Financial Group’s acquisition of Fullerton India Credit in November 2021.
