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Emerald Goes Global: Ties Up with BuyForex to Fuel India’s Cross-Border Dreams

Swarnadwip Nath Published Aug 27, 2025, 01:56 PM Updated Sep 16, 2026, 03:01 AM

In a strategic move aimed at expanding its footprint in the digital financial services ecosystem, Emerald Finance Ltd, a fast-growing non-banking financial company (NBFC), has announced a partnership with BuyForex India, a leading online foreign exchange and travel card platform. The alliance is expected to unlock new opportunities in the cross-border payments and forex services space, especially for retail and MSME customers.

The partnership, disclosed under Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements (LODR), was confirmed via a press release on August 26, 2025. While financial terms of the deal remain undisclosed, the collaboration is expected to integrate Emerald’s lending and digital finance capabilities with BuyForex India’s robust forex infrastructure and travel card network.

“This partnership is a natural extension of our digital-first strategy,” said a senior executive at Emerald Finance. “By joining forces with BuyForex India, we aim to offer seamless, secure, and affordable cross-border financial solutions to our customers.”

What the Partnership Means

The alliance will allow Emerald Finance to offer multi-currency travel cards, real-time forex remittance, and cross-border payment solutions through BuyForex India’s platform. In turn, BuyForex India will gain access to Emerald’s growing customer base, particularly in Tier 2 and Tier 3 cities where demand for affordable international financial services is rising.

Key features expected from the partnership include:

Instant digital onboarding for forex services via Emerald’s app
Prepaid travel cards with competitive exchange rates
MSME-focused remittance solutions for import/export businesses
Co-branded digital wallets for international students and travelers

This move aligns with Emerald Finance’s broader goal of becoming a full-stack digital financial services provider, offering everything from microloans and early wage access to international payments and credit-linked travel products.

Emerald’s Growth Trajectory

Emerald Finance has been on a strong upward trajectory in recent quarters. As of June 2025, the company reported a quarterly revenue of ₹5 crore, marking an 89.2% year-on-year growth. Its market capitalization stands at approximately ₹273 crore, with a stock price hovering around ₹78.96 as of August 22, 20253.

The company’s core business includes:

Retail lending
MSME financing
Digital credit products
Early wage access solutions

With promoter holding at 59.5% and foreign institutional investor (FII) holding at 5.96%, Emerald Finance is increasingly attracting attention from institutional investors looking to tap into India’s fintech boom.

BuyForex India: A Trusted Name in Forex

BuyForex India is one of the country’s most trusted platforms for foreign exchange services, offering:

Live exchange rate comparisons
Doorstep delivery of forex cards and currency
Online remittance services
Corporate forex solutions

The platform has served over 1 million customers and is known for its transparent pricing and user-friendly interface. Its partnership with Emerald Finance is expected to enhance its reach into underserved markets and expand its product suite.

Strategic Implications

This partnership is more than just a product integration—it’s a strategic alignment of two digital-first financial platforms. Analysts believe the move could:

Boost Emerald’s non-interest income
Expand BuyForex’s distribution network
Create new bundled offerings for travelers, students, and small businesses
Enhance customer retention through loyalty-linked forex products

The timing is also opportune, as India’s outbound travel and remittance volumes are surging post-pandemic, with the forex market expected to grow at a CAGR of 12% over the next five years.

What’s Next?

Emerald Finance plans to roll out the integrated services in phases, starting with metro cities and expanding to regional hubs by early 2026. The company is also exploring co-branded credit products, AI-powered forex advisory, and blockchain-based remittance tracking as part of its innovation roadmap.

“We’re building a bridge between Bharat and the world,” said the Emerald spokesperson. “This partnership is just the beginning.”

Sources: Trendlyne, LiveMint, Economic Times

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