Fintech unicorn Mobikwik is looking to enter the business-to-business (B2B) merchant lending space to offer mid-size and small-ticket loans to its existing merchants and to expand its revenue base.
“In addition to QR-based payments and payment soundboxes for merchants, we will also be looking at offering merchant loans…We are experimenting with a few merchant lending products right now,” said Upasana Taku, Co-founder and Chief Operating Officer (COO) of Mobikwik.
Mobikwik is yet to launch the product and is experimenting with its existing merchants. The firm will be majorly targeting Tier II and Tier III cities for small and medium enterprises (SMEs) for their working capital needs.
Gurugram-based Mobikwik has been offering lending and other credit products to its customers. Mobikwik has about 4 million merchants on its platform.
e have been scaling lending in a very healthy manner. For Mobikwik, the lending business disbursals in FY21 were around Rs 300 crore, and in FY22 it was Rs 5,100 crore. Going ahead, it will be large with newer lending products
