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.
Under the partnership, MobiKwik app users in India will have access to the loan amount for ZIP EMI ranging from Rs 50,000 to 2 lakh. Eligibility criteria for these loans are income exceeding Rs 25,000 and between the ages of 23 and 55, with payment tenure ranging between 6 months and 24 months.
Bipin Preet Singh, co-founder and MD of MobiKwik, said, “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.”
One MobiKwik Systems (MobiKwik) is India’s largest digital wallet that offers a wide range of payments.
The company reported consolidated net loss of Rs 3.59 crore in Q2 FY25 as compared with net profit of Rs 5.22 crore posted in Q2 FY24.Revenue from operations jumped 42.86% to Rs 290.64 crore during the quarter as compared with Rs 203.45 crore posted in the corresponding quarter last year.
Shares of One MobiKwik Systems declined 1.59% to Rs 465.15 on the BSE.