Mobikwik has launched instant loan of Rs. 5000 on its app, in partnership with Bajaj Finserv.
Consumers will be able to order the multi-party forex card or cash in foreign currency either for doorstep delivery or at retail outlets of Paytm.
‘Standing instruction’ would enable recurring payments such as loan repayments to move on to UPI.
The Bengaluru based startup will use the funds for further strengthening technology and build scalable growth channels.
Agarwal was previously with digital non-banking finance company InCred Finance. Daman recently quit digital payment entity Mobikwik to join the Beijing-based $3-billion startup to head its marketing team.
The payments firm says that there is 100% jump in number of women using its platform, with bulk of transactions originating in tier-two and three cities.
Chqbook.com will also offer pre–approved products for metro customers across Home Loans, Business Loans, Personal Loans, Insurance, Credit Cards, and other Financial Services.
The company recently raised $4.2 million in Series A funding from Prime Venture Partners, Stellaris Venture Partners and healthcare entrepreneur, Mayur Abhaya.
The company has taken a step by introducing EMI Next, a product which enables merchants, brands and lenders to design specific and flexible EMI products for consumers to suit their requirements.
UPI 2.0 will be a major upgrade, especially the doubling of the payment limit to Rs 2 lakh will bring in a host of new use cases, one banker said.
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