Disburses INR 100 Crore in Q4 FY25, Eyes 15X Growth to INR 1,500 Crore in FY26
Pune: Leading InsuTech RenewBuy forays into auto loan business with the launch of RB Wheelz, the dedicated auto financing vertical of the insurance aggregator. RenewBuy has disbursed INR 100 crore in auto loans during the fourth quarter of FY25, marking its successful entry into vehicle financing. The InsurTech leader now aims for 15X growth, targeting INR 1,500 crore in auto loan disbursements and 10,000 new customers in Financial Year 2026.
This expansion comes at a pivotal moment for India’s auto finance market. With mandatory scrapping of diesel cars over 10 years old and petrol cars over 15 years old, coupled with rising consumer preference for vehicle ownership, the auto loan market is growing at a compound annual growth rate (CAGR) of 15–16%. Through RB Wheelz, RenewBuy seeks to capitalize on this growth by simplifying and streamlining the vehicle ownership process, from financing to insurance, offering customers a faster, more efficient, and digitally driven experience. The company’s solution specifically targets underserved Tier II and III markets, where vehicle financing penetration exceeds 75%, yet digital solutions remain scarce.
“We are seeing a clear shift in aspirations for vehicle ownership, especially beyond the metros, along with a rising preference for auto loans. In Tier II and III cities alone, over 75% of consumers are opting for vehicle financing; this is a high-potential segment which we want to cater to, by making auto loans more accessible, seamless, and digitally driven,” says Indraneel Chatterjee, Co-Founder of RenewBuy.
RenewBuy’s digital platform has been upgraded with dedicated loan features, supported by partnerships with 18 leading banks and NBFCs such as SBI, Axis Bank, . Customers can now access new vehicle financing, balance transfers, top-up loans, and insurance solutions seamlessly under one roof. This integrated approach ensures a smooth transition from loan approval to insurance purchase, enhancing customer experience while maintaining competitive rates and terms.
“Having served consumers in the insurance space for nearly a decade, we are now expanding our footprint in the financial services ecosystem. We are leveraging our tech platform and 1.5 lakh-strong advisor network to bring loan services to consumers in both metros and smaller cities,” he added.
