New Delhi, June 12 : Global consumer finance company Pepper Group on Monday said it will invest $150 million over the next four years to establish a fintech in India. The fintech, under the Pepper Money brand, will be spearheaded by former FlexiLoans co-founder Abhishek Kothari. The company aims to hire a 200+ team to deliver consumer finance products that embed a localised approach to the market. With plans to launch in the second half of 2023, Pepper Money India will introduce personal finance products to target 15 crore households in tier 2 and 3 cities, which are witnessing an increase in economic growth, the company said in a statement. "With 65 per cent of the population under 35 years of age and over 90 percent smartphone adoption between 18-35 years, India has the potential to become one of the largest markets for us in the next 5 years," said Mike Culhane, Group CEO of Pepper. "Kothari's fintech experience and deep understanding of the consumer will be instrumental in building the Pepper Money brand across India," he added. Pepper Money India will also build a strong network of strategic partnerships, including co-branded card partnerships and collaborations with co-lenders. "With Pepper Money India, our vision is to transform the experience of tier 2 and 3 consumers by localising and personalising financial products for them," said Kothari. Pepper Money has offices in India, South Korea, Australia, Spain and the UK. Pepper Group has $21 billion in assets under management (AUM) of self-generated loans via its Pepper Money brand, and a further $55 billion in AUM of third-party loans under credit management via its Pepper Advantage brand. /IANS