mPokket is a mobile‑first platform that offers instant, unsecured personal loans up to ₹2 lakh to Indian residents aged 18+. Users complete digital KYC and income verification, receive a credit limit based on their profile—not a credit score—and get funds transferred directly to their bank account within minutes. The app provides flexible repayment options via UPI or debit card, supports repeat borrowing within the limit, and helps borrowers build credit history through disciplined use.
Funding
$60.3M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many Indian consumers, especially young adults and first-time borrowers, struggle to obtain quick personal loans due to lengthy approval processes, strict credit‑score requirements, and limited access to formal credit channels.
Solution
mPokket offers a mobile‑first platform that provides instant personal loans directly to a borrower’s verified bank account. Users complete a digital KYC, upload income proof, and receive a credit limit of up to ₹2 lakh based on their profile, without needing an existing credit score. Loans can be disbursed within minutes and used for any purpose, such as cash withdrawals, online purchases, or POS transactions. The app supports both lump‑sum and EMI repayment options, with payments accepted via UPI or debit card, enabling flexible and transparent repayment. By allowing repeat borrowing within the allocated limit, mPokket helps users build a credit history through disciplined borrowing and repayment.
Target Audience
Primary customers are Indian residents aged 18 and above who need fast, unsecured personal financing for everyday expenses, emergencies, or short‑term goals, and who may lack an established credit history.
Features
- End‑to‑end digital onboarding with KYC, PAN/Aadhaar upload, and selfie verification
- Instant loan disbursement to the borrower’s bank account, typically within minutes
- Credit limit up to ₹2 lakh assigned based on profile data, not on traditional credit scores
- Flexible repayment choices: single‑payment or EMI schedules, payable via UPI or debit card
- Unlimited borrowing cycles within the approved credit limit, supporting repeat credit needs
- In‑app loan management dashboard showing balance, repayment schedule, and transaction history
- Secure data handling and compliance with Indian financial regulations