Gurugram-headquartered fintech firm MobiKwik (One MobiKwik Systems Ltd.) has entered into a strategic partnership with Poonawalla Fincorp, the NBFC subsidiary of the Cyrus Poonawalla Group, that specializes in consumer and MSME lending. The tie-up seeks to make available quick credit to millions of Indians via MobiKwik's ZIP EMI product.

Instant Personal Loans through the App

The tie-up enables the customers of the MobiKwik app across the country to borrow instant personal loans between ?50,000 and ?15,00,000 via the ZIP EMI offering. These personal loans are customized to serve various financial requirements, such as education, healthcare costs, tourism, and other discretionary consumption requirements. Customers can opt for easy payment tenures of 6 months to 36 months.

Leadership Insights

Ankur Jaipuria, MobiKwik's CEO of Lending Business, said, "Our association with Poonawalla Fincorp is an important milestone in extending credit to millions across India. We are committed to delivering financial services that are inclusive for people from all walks of life."

Vikas Pandey, Head of Digital Marketing and Chief Business Officer - Consumer Finance at Poonawalla Fincorp, said he was excited about the collaboration, "We look forward to partnering with MobiKwik to increase our outreach and provide affordable credit solutions to more people through our risk-first strategy. This partnership is in line with our vision of providing easy financial services to people in India.". By merging our loan origination and servicing operations with MobiKwik's large digital platform, we are able to ride on their deep penetration in Tier 2 and Tier 3 cities and beyond. This strategic partnership strengthens our focus on responsible lending and economic growth in the country.

With this collaboration, MobiKwik will offer loans through its app to borrowers across various income segments in Tier 2, Tier 3 cities, and beyond.