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Mint
21-04-2025
- Business
- Mint
MobiKwik and Poonawalla Fincorp join hands to offer instant personal loans
MobiKwik, which offers a wide range of payments and financial products, has announced a strategic partnership with Poonawalla Fincorp to offer instant personal loans. This collaboration aims to promote quick access to credit for millions of Indians through MobiKwik's ZIP EMI product. The partnership enables MobiKwik app users across India to access instant personal loans ranging from ₹ 50,000 to ₹ 15,00,000 through ZIP EMI. The loans are designed to meet various financial needs, including funding education, medical bills, travel expenses, and other personal expenditures. Users can choose flexible repayment options ranging from 6 to 36 months. With minimal documentation requirements and a rapid approval process, the loan is available at any time of the day, further enhancing the convenience and speed that have been hallmarks of MobiKwik's services. This initiative marks a significant step towards adopting a distribution model and expanding services to a wider audience. Another advantage of this offering is that it helps users enhance their credit scores. By making timely loan repayments, borrowers can establish or improve their credit history and become eligible for higher loan amounts. Ankur Jaipuria, CEO of Lending Business, MobiKwik, said, 'Our partnership with Poonawalla Fincorp represents a pivotal step in democratizing credit access for millions across India. We're committed to providing financial services that reach people across all strata and demographics.' On the partnership, Vikas Pandey, Chief Business Officer, Consumer Finance and Head Digital Marketing, said, 'We are delighted to partner with MobiKwik to expand our reach and provide accessible credit solutions to a wider audience through our risk-first approach. This collaboration aligns perfectly with our mission to provide individuals across India with seamless and convenient financial services. By integrating our loan origination and servicing process with MobiKwik's extensive digital platform. This partnership enables us to leverage MobiKwik's deep penetration in Tier 2, Tier 3 cities, and beyond. This strategic alignment further strengthens our commitment to responsible lending and fostering economic growth across India.' Through this partnership, MobiKwik will offer loans via its app to borrowers across diverse income segments in Tier 2, Tier 3 cities, and beyond. Poonawalla Fincorp will serve as the lender, while MobiKwik will act as the facilitator of the loan product, leveraging its tech platform to connect borrowers with much-needed credit. Disclaimer: Mint has a tie-up with fintechs for providing credit, you will need to share your information if you apply. These tie-ups do not influence our editorial content. This article only intends to educate and spread awareness about credit needs like loans, credit cards and credit score. Mint does not promote or encourage taking credit as it comes with a set of risks such as high interest rates, hidden charges, etc. We advise investors to discuss with certified experts before taking any credit. Visit here for all personal finance updates. First Published: 21 Apr 2025, 05:33 PM IST
Business Standard
21-04-2025
- Business
- Business Standard
One Mobikwik Systems partners with Poonawalla Fincorp to offer instant personal loans via ZIP EMI
One Mobikwik Systems rose 1.17% to Rs 282 after the company announced a strategic partnership with Poonawalla Fincorp, a non-banking financial company (NBFC) promoted by the Cyrus Poonawalla Group. The collaboration is aimed at expanding access to instant personal loans for consumers and MSMEs across India via MobiKwiks ZIP EMI platform. As part of the partnership, users of the MobiKwik app will be able to avail personal loans ranging from Rs 50,000 to Rs 15 lakh, with flexible repayment tenures between 6 to 36 months. The loans are designed to serve a variety of financial needs, including education, medical expenses, travel, and other personal consumption requirements. The loan offers minimal documentation requirements and a rapid approval process, the loan is available at any time of the day, further enhancing the convenience and speed that have been hallmarks of MobiKwik's services. This initiative marks a significant step towards adopting a distribution model and expanding services to a wider audience. Through this partnership, MobiKwik will offer loans via its app to borrowers across diverse income segments in Tier 2, Tier 3 cities and beyond. Poonawalla Fincorp will serve as the lender, while MobiKwik will act as the facilitator of the loan product, leveraging its tech platform to connect borrowers with much-needed credit. Ankur Jaipuria, CEO of lending business MobiKwik, said, Our partnership with Poonawalla Fincorp represents a pivotal step in democratizing credit access for millions across India. We're committed to providing financial services that reach people across all strata and demography. Vikas Pandey, chief business officer for consumer finance and head digital marketing, said, We are delighted to partner with MobiKwik to expand our reach and provide accessible credit solutions to a wider audience through our risk-first approach. This collaboration aligns perfectly with our mission to provide individuals across India with seamless and convenient financial services. By integrating our loan origination and servicing process with MobiKwiks extensive digital platform. This partnership enables us to leverage MobiKwiks deep penetration in Tier 2, Tier 3 cities and beyond. This strategic alignment further strengthens our commitment to responsible lending and fostering economic growth across India. One MobiKwik Systems (MobiKwik) is Indias largest digital wallet that offers a wide range of payments. Poonawalla Fincorp is a non-deposit-taking systemically important non-banking finance company (ND-SI-NBFC) registered with the Reserve Bank of India (RBI). It offers pre-owned car finance, personal loans, loans for professionals, business loans, loans against property, machinery loans, education loans, commercial vehicle loans, and shopkeeper loans. Shares of Poonawalla Fincorp rose 0.90% to Rs 388.50 on the BSE.
News18
21-04-2025
- Business
- News18
MobiKwik Partners With Poonawalla Fincorp To Offer Instant Personal Loans Up to Rs 15 Lakh
Last Updated: MobiKwik partners with Poonawalla Fincorp to offer instant personal loans via ZIP EMI, ranging from Rs 50,000 to Rs 15,00,000, enhancing credit access in India. MobiKwik (One MobiKwik Systems Ltd.) has announced a strategic partnership with Poonawalla Fincorp, a non-banking financial company (NBFC) promoted by the Cyrus Poonawalla Group, to offer instant personal loans. This collaboration aims to provide quick access to credit for millions of Indians through MobiKwik's ZIP EMI product. The partnership allows MobiKwik app users across India to obtain instant personal loans ranging from Rs 50,000 to Rs 15,00,000 through ZIP EMI. These loans can be used for various financial needs such as education, medical expenses, travel, and other personal expenses. Users can select flexible repayment options ranging from 6 to 36 months. With minimal documentation and a swift approval process, the loans are available at any time of the day, enhancing the convenience and speed that MobiKwik is known for. This initiative marks a significant move towards adopting a distribution model and expanding services to a broader audience. An additional benefit of this offering is the potential to improve users' credit scores. By making timely repayments, borrowers can establish or enhance their credit history, making them eligible for higher loan amounts in the future. Commenting on the partnership, Ankur Jaipuria, CEO of Lending Business at MobiKwik, stated, 'Our collaboration with Poonawalla Fincorp is a pivotal step in democratizing credit access for millions across India. We're committed to providing financial services that reach people from all walks of life." Vikas Pandey, Chief Business Officer – Consumer Finance and Head of Digital Marketing at Poonawalla Fincorp, expressed his delight in partnering with MobiKwik. He noted that this collaboration aligns with their mission to provide seamless and convenient financial services across India. By integrating their loan origination and servicing process with MobiKwik's extensive digital platform, Poonawalla Fincorp aims to leverage MobiKwik's deep penetration in Tier 2, Tier 3 cities, and beyond. This strategic alignment further strengthens their commitment to responsible lending and fostering economic growth in India. Through this partnership, MobiKwik will offer loans via its app to borrowers across diverse income segments in Tier 2, Tier 3 cities, and beyond, with Poonawalla Fincorp serving as the lender. MobiKwik will facilitate the loan product, using its tech platform to connect borrowers with the needed credit. First Published: April 21, 2025, 11:44 IST
