The local finance startup PhonePe revealed on Thursday, 31 May, that it has expanded its platform to include secured loan options in six different categories.

According to the company statement, PhonePe customers can apply for loans for mutual funds, gold, bikes, cars, homes, loans secured by real estate, and schooling.

According to the statement, the business has worked with Tata Capital, L&T Finance, Hero FinCorp, Muthoot Fincorp, DMI Housing Finance, Home First Finance, RuPay, Volt Money, and Gradright, among other banks, NBFCs, and fintech companies.

PhonePe announced that it aims to increase its number of partners from 15 to 25 during the upcoming quarter.

Hemant Gala, CEO of PhonePe Lending, said, “Lenders are investing heavily in digitising the secured loan journeys and customers are adapting to the digitisation at a rapid pace. We believe it’s a great time to revolutionise the secured lending product experience for the customers working with the lending ecosystem.”

Earlier, on 26 May, the company ended a five-year dispute with BharatPe over the use of the trademark with the suffix ‘Pe’.

Both companies have agreed to withdraw all oppositions against each other in the trademark registry, which will help them proceed with registering their respective trademarks.