In a major push to deepen digital lending across India, MobiKwik partners Poonawalla Fincorp to enable instant personal loans via its ZIP EMI platform. This collaboration merges MobiKwik’s deep digital penetration with Poonawalla Fincorp’s robust non-banking financial capabilities, making formal credit accessible to users in Tier 1, Tier 2, and Tier 3 cities.
One MobiKwik Systems Ltd., headquartered in Gurugram, continues its evolution from a digital wallet to a full-stack fintech leader. Founded in 2009 by Bipin Preet Singh and Upasana Taku, MobiKwik has diversified into payments (Wallet, UPI, Pocket UPI, Zaakpay), credit (ZIP, ZIP EMI), and financial services like insurance, digital gold, mutual funds, and fixed deposits. Today, it serves over 172 million users and 4.5 million merchants.
Through this new partnership, users can access personal loans ranging from ₹50,000 to ₹15 lakh with tenures of 6 to 36 months. The offering targets a wide spectrum of needs—education, travel, health, and lifestyle—catering particularly to underserved markets.
MobiKwik partners Poonawalla Fincorp to offer instant loans. This alliance reflects the growing trend of fintechs and NBFCs joining forces. While fintechs offer technology, user experience, and digital reach, NBFCs bring in capital depth and regulatory expertise. Poonawalla Fincorp, part of the Cyrus Poonawalla Group, has steadily expanded its reach in MSME and consumer credit with a risk-first philosophy.
The move aims to accelerate financial inclusion, drive credit penetration, and foster responsible lending habits, especially among new-to-credit users. For fintech founders and entrepreneurs, this partnership signals the importance of scalable models rooted in digital-first infrastructure and compliance alignment.
As India’s fintech scene matures, partnerships like this one redefine how digital lending shapes the economy. The Startups News continues to track these transformative collaborations to keep you updated on the future of financial services in India.
1. INTRODUCTION TO MOBIKWIK: FOUNDERS, FUNDING, AND FINTECH EVOLUTION
1.1 MobiKwik began its journey in 2009 when co-founders Bipin Preet Singh and Upasana Taku envisioned a digital-first India. Starting as a prepaid recharge and wallet platform, MobiKwik evolved into a comprehensive fintech ecosystem.
1.2 Today, MobiKwik is a listed company serving over 172 million users and collaborating with 4.5 million merchants. Its widespread digital payment services have made it a household name in India.
1.3 Over the years, MobiKwik has raised more than $180 million from marquee investors like Sequoia Capital, Bajaj Finance, and the Abu Dhabi Investment Authority. Its revenue model spans transaction fees, credit commissions, investment facilitation, and insurance distribution.
1.4 MobiKwik now offers a wide suite of services—payments via Wallet, UPI, and Pocket UPI; the Zaakpay gateway; credit products like ZIP and ZIP EMI; and investment and insurance tools spanning fixed deposits, mutual funds, digital gold, and health/motor/life insurance.
2. STRATEGIC TIE-UP: MOBIKWIK PARTNERS POONAWALLA TO DISRUPT LENDING
2.1 MobiKwik partners Poonawalla Fincorp to offer instant loans. The newly formed alliance with Poonawalla Fincorp aims to redefine credit accessibility in India. This is not just a distribution deal—it’s a digital-first financial inclusion strategy.
2.2 Poonawalla Fincorp, a prominent NBFC under the Cyrus Poonawalla Group, brings strong underwriting capabilities and a risk-first approach to the table. The company has built a track record in responsible consumer and MSME lending.
2.3MobiKwik partners Poonawalla Fincorp to offer instant loans. Through this partnership, MobiKwik users can now access instant personal loans between ₹50,000 to ₹15,00,000. The repayment terms are user-friendly, ranging from 6 to 36 months, addressing needs like travel, education, healthcare, or home upgrades.
2.4 The experience is entirely digital—onboarding, approval, disbursement, and repayment occur within the MobiKwik app, eliminating paperwork and reducing friction.
2.5 This tie-up specifically targets small-town India. Tier 2 and Tier 3 cities often remain overlooked by traditional banks. By bridging this credit gap digitally, both companies stand to benefit from high adoption and impact.
3. INDUSTRY TRENDS: FINTECHS PARTNERING WITH NBFCs
3.1 This partnership reflects a broader movement where fintech platforms and NBFCs align to create scalable lending models. While fintechs own the user interface and data analytics, NBFCs enable capital and regulatory compliance.
3.2 India’s credit penetration remains shallow. Over 400 million Indians lack access to formal credit. According to a BCG report, India’s digital lending market is projected to reach $350 billion by 2025.
3.3 With increased focus on financial inclusion, tech-driven alliances are the most practical solution. MobiKwik’s digital muscle paired with Poonawalla’s risk infrastructure offers a scalable, secure model for lending.
4. LEADERSHIP PERSPECTIVE: BRIDGING CREDIT GAPS
4.1 Ankur Jaipuria, CEO of MobiKwik’s Lending Division, emphasised that the partnership was a strategic milestone in democratizing access to credit, especially for new-to-credit consumers.
4.2 Vikas Pandey, Chief Business Officer at Poonawalla Fincorp, stated that the partnership aligns with their core mission to empower individuals from underbanked and underserved markets.
4.3 The leaders believe this collaboration showcases how digital platforms and NBFCs can build scalable, inclusive lending ecosystems without compromising on compliance.
5. IMPACT: EXPANDING ACCESS TO DIGITAL CREDIT
5.1 The partnership’s core impact lies in empowering Indians who have historically been left out of the formal lending landscape.
5.2 Instant credit through the ZIP EMI platform ensures accessibility without bureaucratic bottlenecks. With seamless onboarding and digital KYC, user convenience is maximized.
5.3 Additionally, this lending product promotes credit education. By offering structured EMIs and transparent terms, it helps build responsible financial behavior in new borrowers.
6. LEARNINGS FOR STARTUPS AND ENTREPRENEURS
6.1 This partnership exemplifies the power of strategic collaboration. Rather than building everything in-house, combining complementary strengths creates high-impact solutions.
6.2 For fintech founders, the blueprint lies in finding capital-efficient models. Leveraging NBFC licenses via tech integrations helps scale without needing a heavy balance sheet.
6.3 The focus on Tier 2 and Tier 3 cities is also a strong learning. These markets are growing faster than metros in terms of digital adoption and consumer demand.
6.4 Most importantly, solving real problems—such as credit access—builds trust. Products aligned with user pain points gain quicker adoption and stickiness.
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