MobiKwik Partners With Poonawalla Fincorp To Offer Instant Personal Loans

MobiKwik has partnered with Poonawalla Fincorp, a finance company backed by the Cyrus Poonawalla Group, to offer instant personal loans through its ZIP EMI service.

With this tie-up, MobiKwik users across India can get personal loans between ₹50,000 and ₹15 lakh. The money can be used for things like education, medical bills, travel, or other personal needs. Users can choose to repay the loan over 6 to 36 months.

The process is quick, requires very little paperwork and is available 24/7. It’s designed to make borrowing simple and fast.

By linking their loan system with MobiKwik’s wide digital reach, especially in Tier 2 and Tier 3 cities, Poonawalla Fincorp hopes to reach more people and promote responsible lending.

Read also- Tesla Seeks India For Key Components In Global Supply Chain Expansion

With this partnership, MobiKwik will help users from different income groups apply for loans through its app, while Poonawalla Fincorp will provide the actual funds. MobiKwik’s technology will make the process smooth and help connect users to credit.

Paying back the loan on time can also help users build or improve their credit score, making it easier to get larger loans in the future.

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 at Poonawalla Fincorp, said he’s happy to team up with MobiKwik. He shared that the partnership supports their goal of offering easy and accessible financial services across India.

About MobiKwik 

Founded in 2009 by Bipin Preet Singh and Upasana Taku, MobiKwik is a digital banking platform that offers services like a digital wallet, UPI, Pocket UPI and Zaakpay (a payment gateway) for both users and businesses.

The company says it is India’s largest digital wallet provider, with over 172 million registered users and more than 4.5 million merchants in its network.