Gurgaon, January 16, 2025 – MobiKwik (ONE MOBIKWIK SYSTEMS LIMITED), India’s largest digital wallet that offers a wide range of payments and financial products to both consumers and merchants, today announced a strategic partnership with Piramal Capital & Housing Finance Ltd., herein referred to as Piramal Finance. This partnership aims to provide personal loans to MobiKwik customers, enhancing access to affordable credit solutions.
Through this partnership, MobiKwik users will now be able to apply for and access personal loans seamlessly via the platform. The offering is designed to cater to the diverse financial needs of individuals, whether it’s managing expenses such as funding education, medical expenses, travel expenses, and other consumption purposes.
This ease of access to credit is available for all MobiKwik app users pan India with the loan amount for ZIP EMI ranging from INR 50,000 to INR 2,00,000. Eligibility criteria for these loans are income exceeding INR 25,000 and between the ages of 23 and 55. The minimum tenure is 6 months and goes up to 24 months.
Bipin Preet Singh, Co-Founder and MD, MobiKwik, commented about the partnership saying, “At MobiKwik, we have always strived to empower our customers with innovative financial products. Our partnership with Piramal Finance marks a significant step towards addressing the credit needs of millions of Indians. By combining Piramal Finance’s expertise in financial services with MobiKwik’s digital platform, we are confident of creating a seamless experience for our users.”
This collaboration aligns with MobiKwik’s vision of driving financial inclusion by leveraging digital innovation. Along with our partners, we aim to make credit more accessible and affordable for customers across India by introducing new and innovative products to the market.
About Piramal Capital and Housing Finance Limited (PCHFL)
Piramal Capital & Housing Finance Limited (Piramal Finance), a wholly owned subsidiary of Piramal Enterprises Limited (flagship company of the Piramal Group), is a leading Non-Banking Financial Company – Housing Finance Company (NBFC-HFC) engaged in retail and wholesale lending. In retail lending, Piramal Finance is one of the leading players that address the diverse financing needs of the under-served and unserved people of the ‘Bharat’ market. It has over 1.3 million active customers and a presence in 26 states with a network of 508 conventional branches, as on 30th September 2024. It offers multiple products, including home loans, loans against property, used car loans, and small business loans to Indian budget-conscious customers at the periphery of metros and in Tier I, II, and III cities. In wholesale lending, it caters to both real estate as well as non-real estate sectors and offers multiple products including construction finance, structured debt, and senior secured debt.
For more information visit: piramalfinance.com
About MobiKwik
One MobiKwik Systems Ltd. (MobiKwik) is India’s largest digital wallet that offers a wide range of payments and financial products to both consumers and merchants.
The Company founded by Bipin Preet Singh and Upasana Taku in 2009, today offers various payment products such as MobiKwik Wallet, UPI, Pocket UPI, and Zaakpay (payment gateway) serving 167 Mn registered users and 4.40 Mn merchants. The Company has expanded into the distribution of financial products ranging from credit (MobiKwik ZIP, ZIP EMI), savings & investment (Fixed Deposits, Mutual Funds, Digital Gold, Lens.AI), and insurance products on its platform.
According to the RedSeer Report, as of Fiscal 2023, MobiKwik had the fourth-highest user base in India in terms of total registered users on the platform. MobiKwik was termed as one of the largest leading digital financial product and services platforms in India by registered users. MobiKwik is the largest digital wallet in India with a 23% market share of the PPI wallet gross transaction value (GTV) as of November 2024.
MobiKwik, listed on both the NSE and BSE in December 2024, remains committed to financial inclusion and the evolving needs of diverse consumer segments.
For more details, please visit our website: https://www.mobikwik.com/ir/
Follow Us on:
