India’s leading fintech startup, Mobikwik, is foraying into P2P Lending with RBI-registered NBFC Lendbox. Founded in 2009 by Bipin Preet Singh and Upasana Taku, Mobikwik provides a mobile wallet to make digital payments convenient for all users in India. Its services include eCommerce shopping, bill payment, food delivery, petrol pumps, large retail chains, kirana stores, pharmacies, etc. As per the National Payment Corporation of India, the company has acquired 26% shares of the entire IMPS transfer market in India. The company has 101 million registered users and over 3 million physical, e-commerce, retail, and biller partners. Undoubtedly, the company has a robust presence in India with a 30 Lakh + active customer base. In addition, the company has enabled peer-to-peer payments through a Unified Payment Interface (UPI) MobiKwik wallet to bank payments.
As the company has a vast customer base, it wants to solve the financial needs of digitally-savvy Indians. With this aim, the company has forayed into P2P Lending with ‘Xtra.’ A product that will provide all new experiences to the users. Further, the company is also performing well in the stock market. MobiKwik unlisted shares become a good investment opportunity for retail investors to invest and earn high ROI. Let’s dig into the pool of MobiKwik’s partnership with P2P Lending with Registered NBFC Lendbox to launch Xtra.
Overview Of NBCF – P2P Business Model
The Peer-to-peer (P2P) business model is a crowd-funding approach where an individual directly transacts with businesses in production with each other without intermediation by a third party. Most P2P Lending platforms are set up as NBFC fintech companies (Non-Banking Financial Companies). In contrast to conventional banking and financial institutions, the P2P model is a contemporary credit model to address ongoing business credit needs. The platform offers a forum for collecting various funds from different resources. The P2P Lending industry in India is growing at a fast rate every year and is now expected to hit USD 4-5Bn this year.
Moreover, the P2P business model can provide users with services like debt recovery, the credit assessment, and many more. Basically, the platform coordinates the deal between the borrower and the lender via an online marketplace like Lendbox. This business model helps lenders get a higher ROI while a borrower gets a loan at a much lower rate. MobiKwik, too, joined this model to enhance its services and improve users’ experience. Forget not to check out MobiKwik unlisted share price to get a high return on your investment.
MobiKwik Partnership With RBI-registered NBFC Lendbox
The largest independent mobile payment platform in India, MobiKwik aims to address the unmet credit needs of fast-growing online transactions by merging the convenience of everyday mobile payment with the benefits of Buy Now Pay Later (BNPL). By starting operations in 2009 with MobiKwik Mobile Wallet, the company allowed users to load money into their mobile wallets so that they could pay their utility bills in a single click. With the growing need for digital payments and to solve India’s financial needs, MobiKwik partnered with RBI-registered NBFC Lendbox to launch its product ‘Xtra.’
According to Industry Statistics, the mobile payment market was valued at $125.6 billion in 2019 and is expected to reach $1,384.0 billion by 2027, registering a CAGR of 50%. Moreover, India’s mobile user base has grown to be the second largest in the world after China. Therefore, MobiKwik has embarked on the journey to launch its product “Xtra” in partnership with RBI-registered NBFC Lendbox. Moreover, you can buy MobiKwik unlisted shares with the best-unlisted share broker in India.
Mobikwik Flexible Investment Product – Xtra With 12% Returns
Xtra is an investment product by MobiKwik that offers you the opportunity to earn a 12% return on investment per year by lending directly to credit-worthy borrowers. Users can do this through an RBI-regulated peer investing platform, Lendbox. According to MobiKwik, “the launch of Xtra will soon give a billion phone access to financial services. It is a novel approach to investing designed to meet the needs of young investors. It does not have a lock-in, with daily interest credit of up to 12% and a low initial deposit requirement of just INR 1000. With the launch of Xtra, the company aims to establish a new investing pattern among users of the user-friendly MobiKwik mobile app.“
Today, 90% of Indians lack access to relevant financial products and services and the proper knowledge to make the most of their money. Every Indian can expect to save money with the help of Xtra. So, users can easily support and make money for a longer period of time through Xtra. According to MobiKwik’s website, “Before choosing the borrowers to whom the money will be provided, hundreds of information points of income and cost behaviour are discussed. The money from investors will be split among lakhs of borrowers into units of as little as 100 rupees. Investments are diversified, and risk is decreased as a result”.
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How MobiKwik Xtra Strengthens The Investment Scenario?
By making a foray into P2P lending with RBI-registered Lendbox, MobiKwik claims to empower the billions of Indians in digitising investment and savings in a tech-friendly, user-friendly way that will offer flabbergasting returns on investment. As claimed by fintech powerhouse, the solutions like Xtra, a flexible and great alternative, can surely assist Indians in achieving financial independence and giving greater returns on their money. Moreover, MobiKwik, with its partners under RBI regulations, uses best-in-class risk assessment techniques to mitigate investors’ risk. The company will not stop only with the launch of Xtra; instead, they plan to bring in various credit products like personal loans, EMI loans, and credit cards, with many other lending partners. So, why not connect with Stockify to invest in MobiKwik unlisted shares and earn a high ROI?