Listed fintech major MobiKwik joined hands with Piramal Finance to offer personal loans of up to INR 2 Lakh to users

Eligible users can apply for and access personal loans ranging from INR 50K to INR 2 Lakh for a tenure of 6-24 months

MobiKwik reported a net loss of INR 3.59 Cr in Q2 FY25 on operating revenue of INR 290.65 Cr

Recently listed fintech major MobiKwik has joined hands with Piramal Capital and Housing Finance (Piramal Finance) to offer personal loans of up to INR 2 Lakh to users across the country.

The partnership will enable MobiKwik users to apply for and access personal loans ranging from INR 50k to INR 2 Lakh seamlessly via the platform, the fintech company said in a statement.

All MobikWik app users with an income of more than INR 25K in the age bracket of 23 and 55 are eligible for these loans. The minimum loan tenure is 6 months and goes up to 2 years.

The fintech major said that with its new offering, it aims to address the diverse financial needs of its customers, including education expenses, medical expenses and travel expenses among others.

Shares of MobiKwik closed today’s (January 16) trading session 1.18% higher at INR 472.65 apiece on the BSE.

Founded in 2009 by Bipin Preet Singh and Upasana Taku, MobiKwik is a digital banking platform that offers a range of payments and financial products to both customers and merchants such as digital wallet, UPI, pocket UPI, and Zaakpay (payment gateway).

The company claims to be India’s largest digital wallet provider serving 167 Mn registered users and a network of 4.4 Mn merchants.

It is to be noted that MobiKwik was among the 13 new-age tech companies that went public in 2024 with its shares listing at INR 442.25 apiece on the BSE, a 58.5% premium against the IPO issue price of INR 279 per share.

MobiKwik slipped into the red in the September quarter of the financial year 2024-25 (Q2 FY25) on account of higher tax expenses. The fintech giant reported a net loss of INR 3.59 Cr in Q2 FY25 as against a profit of INR 5.22 Cr in the year-ago period. 

Operating revenue jumped 42% to INR 290.65 Cr during the quarter under review from INR 203.45 Cr in Q2 FY24. 

Listed fintech major MobiKwik joined hands with Piramal Finance to offer personal loans of up to INR 2 Lakh to users

Eligible users can apply for and access personal loans ranging from INR 50K to INR 2 Lakh for a tenure of 6-24 months

MobiKwik reported a net loss of INR 3.59 Cr in Q2 FY25 on operating revenue of INR 290.65 Cr

Recently listed fintech major MobiKwik has joined hands with Piramal Capital and Housing Finance (Piramal Finance) to offer personal loans of up to INR 2 Lakh to users across the country.

The partnership will enable MobiKwik users to apply for and access personal loans ranging from INR 50k to INR 2 Lakh seamlessly via the platform, the fintech company said in a statement.

All MobikWik app users with an income of more than INR 25K in the age bracket of 23 and 55 are eligible for these loans. The minimum loan tenure is 6 months and goes up to 2 years.

The fintech major said that with its new offering, it aims to address the diverse financial needs of its customers, including education expenses, medical expenses and travel expenses among others.

Shares of MobiKwik closed today’s (January 16) trading session 1.18% higher at INR 472.65 apiece on the BSE.

Founded in 2009 by Bipin Preet Singh and Upasana Taku, MobiKwik is a digital banking platform that offers a range of payments and financial products to both customers and merchants such as digital wallet, UPI, pocket UPI, and Zaakpay (payment gateway).

The company claims to be India’s largest digital wallet provider serving 167 Mn registered users and a network of 4.4 Mn merchants.

It is to be noted that MobiKwik was among the 13 new-age tech companies that went public in 2024 with its shares listing at INR 442.25 apiece on the BSE, a 58.5% premium against the IPO issue price of INR 279 per share.

MobiKwik slipped into the red in the September quarter of the financial year 2024-25 (Q2 FY25) on account of higher tax expenses. The fintech giant reported a net loss of INR 3.59 Cr in Q2 FY25 as against a profit of INR 5.22 Cr in the year-ago period. 

Operating revenue jumped 42% to INR 290.65 Cr during the quarter under review from INR 203.45 Cr in Q2 FY24.