MobiKwik and Piramal Finance Partner to Offer Personal Loans Up to ₹2 Lakh

MobiKwik, India’s largest digital wallet platform, has announced a strategic partnership with Piramal Capital & Housing Finance to enhance access to affordable personal loan solutions. This collaboration aims to meet the diverse financial needs of individuals across the country, offering a seamless and user-friendly loan application experience through the MobiKwik platform.
Through this partnership, MobiKwik users can apply for personal loans ranging from ₹50,000 to ₹2 lakh under the ZIP EMI scheme. These loans are designed to address various financial requirements, including education, medical expenses, travel, and other consumption needs. The eligibility criteria for the loans include an income of ₹25,000 or more and an age range of 23 to 55 years, with repayment tenures between 6 to 24 months.
Commenting on the collaboration, 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.”
The move aligns with MobiKwik’s mission of empowering users with financial independence while leveraging its extensive digital ecosystem. Piramal Finance, a leader in financial services, brings its robust credit evaluation framework to this partnership, ensuring efficient and responsible lending practices.
MobiKwik’s financial performance reflects its growing market presence. The company reported a 42.86% surge in revenue from operations in Q2 FY25, reaching ₹290.64 crore compared to ₹203.45 crore in the same quarter last year. However, it recorded a net loss of ₹3.59 crore in Q2 FY25, a reversal from the ₹5.22 crore net profit posted in Q2 FY24.