Securis Finance, the new venture by the founders of the Junio payments app, has received approval from the Reserve Bank of India (RBI) to operate as a Non-Banking Financial Company (NBFC). 

Securis aims to offer education loans to teenagers across India.

Founded by former Paytm chief marketing officer Shankar Nath, Securis Finance is focused on offering loans to teenagers pay for school and college. It is backed by Junio, a digital payments platform, that helps teenagers in managing money and smart spending. 

Securis will launch its loan services in Bengaluru, Mumbai, Delhi-NCR, Hyderabad, and Pune, cities known for its top schools and coaching centers. 

The company plans to disburse Rs 100 crore in loans in the first year, helping over 10,000 students. Loan amounts will range from Rs 50,000 to Rs 5 lakh, and the process.

The firm is also in talks with top schools and colleges to make the loan process smoother and more direct.

The development was first reported by Entrackr.