Mobikwik introduces instant credit facility for customers and small merchants


MobiKwikDigital payments brand Mobikwik has finally introduced its instant credit facility for customers and small merchants.

The launch sees the day of the light after nine months of partnership.

The firm has partnered with Bajaj Finserv to avail an instant loan of Rs 5000 via its app.

Both the firms entered into a strategic alliance last year for launching fintech products.

In August last year, Mobikwik collected Rs 225 crore from Bajaj Finance in to foray into the fintech segment.

Through its Insta Credit product, Mobikwik is aiming to tap the market for small credit products. It had also partnered with cab aggregator Ola for drawing more users to its credit product.

This will enable the company to engage new set of customers who cannot access credit to date. The brand already pre-approved Rs 3500 crore of loans for millions of users across the country.

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