India, April 21 -- Listed fintech startup MobikWik has partnered with Poonawalla Fincorp to offer instant personal loans of up to INR 15 Lakh to its customers.

Through this partnership, MobiKwik will offer loans via its app to borrowers across diverse income segments in Tier II, III and beyond cities.

"Our partnership with Poonawala Group represents a pivotal step in democratising credit access for millions across India," said Ankur Jain, CEO of MobiKwik's lending business.

Under the initiative, MobiKwik users pan India will have access to a loan amount for ZIP EMI ranging from INR 50K to INR 15 Lakh.

ZIP EMI is a personal loan service provided by MobiKwik.

The fintech major said that with its new offering, it aims to address the div...