Context:
Fintech platform MobiKwik has announced a strategic partnership with Poonawalla Fincorp to provide instant personal loans of up to ₹15 lakh to users across India. This initiative, aimed at financial inclusion, especially targets customers in Tier II, Tier III, and smaller towns.
Key Features of the Loan Offering
- Loan Amount Range: ₹50,000 to ₹15,00,000
- Service Name: ZIP EMI – MobiKwik’s personal loan offering
- Availability: Nationwide via the MobiKwik mobile app
- Customer Segments: Diverse income groups across semi-urban and rural markets
About MobiKwik
- Founded: 2009
- Founders: Bipin Preet Singh and Upasana Taku
- Services: Digital wallet, UPI, pocket UPI, and Zaakpay (payment gateway)
- User Base: Over 172 million registered users
- Merchant Network: 4.5 million+ merchants
- Reputation: Recognized as India’s largest digital wallet provider
