The Adani Group’s superapp Adani One has rolled out a pilot project in partnership with digital lending firms and NBFCs to offer loans on the platform
Adani Enterprise's digital arm, Adani Digital Labs has inked a deal with KreditBee’s NBFC arm KrazyBee Services to offer personal loans
Under the terms of the agreement, Adani Digital will reportedly act as a lending service provider while KrazyBee will purportedly disburse loans in the range of INR 1000-INR 5 Lakh
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Amid the digital borrowing boom in India, the Adani Group’s superapp Adani One has rolled out a pilot project in partnership with digital lending firms and non-banking financial companies (NBFCs) to offer loans on the platform.
Adani Digital Labs — the digital arm of the Adani Group’s flagship entity Adani Enterprise – has inked a deal with fintech soonicorn KreditBee’s NBFC arm KrazyBee Services to offer personal loans, Moneycontrol reported, citing multiple sources.
The loan facility is expected to go live on the app soon. Under the terms of the agreement, Adani Digital will reportedly act as a lending service provider while KrazyBee will purportedly disburse loans in the range of INR 1000-INR 5 Lakh.
Adani One is also said to be in talks with other fintechs and NBFCs to offer credit products and services to its customers.
This comes on the heels of reports that the Adani Group is planning to offer UPI-based payment services, as well as grocery and online food delivery services on its super app.
It is pertinent to note that the Gautam Adani-led ports-to-power conglomerate launched its super app, Adani One, in 2022 for its airport vertical, where users could book air tickets, check flight status, shop for duty-free products, and avail such other facilities from the app.
However, Adani One has since expanded its offerings. In June, it launched co-branded credit cards in partnership with ICICI Bank and Visa.
Adani One clocked an annual gross merchandise value of INR 750 Cr in the financial year 2023-24 (FY24), fueled by strong online ratings and steady growth in transaction value per user.
Besides Adani, several big players such as Reliance Industries, the Tata Group, Amazon and Paytm have embarked on the super app journey in an attempt to consolidate their products and services under one umbrella.
Earlier this year, Inc42 exclusively reported that Adani One’s competitor Tata Neu, the super app of the Tata Group, was looking to foray into the wealthtech market with plans to offer stock brokerage and mutual funds investment services.
The opportunity is being thrown open by India’s booming digital consumer lending market, poised to surpass $720 Bn by 2030, according to Inc42’s analysis.
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