Adani Super app launches digital lending trials with fintechs and NBFCs: What we know

Adani One has established a partnership with KrazyBee Services- the NBFC subsidiary of the fintech company KreditBee- to offer personal loans.

Adani One, the ‘super app’ developed by Adani Group, initiated pilot projects with digital lending firms and non-banking financial companies (NBFCs) to provide loans through the platform, it was reported. Adani One is operated under Adani Enterprise Limited’s digital branch Adani Digital Labs Ltd. It has established a partnership with KrazyBee Services- the NBFC subsidiary of the fintech company KreditBee- to offer personal loans, according to a report by Moneycontrol. Adani’s super app was previously focused on travel and airport services.

Adani One is operated under Adani Enterprise Limited’s digital branch Adani Digital Labs Ltd.

Citing sources, the report claimed that Adani One is also in discussions with other NBFCs and fintech companies to expand its credit product offerings. A source told the outlet, “More partnerships are on the way. As of now, one (KreditBee) has completed the pilots and the personal loan facility will soon reflect on the app.”

The report added that owing to the partnership Adani Digital will function as a lending service provider (LSP) and will facilitate personal loans ranging from ₹1,000 to ₹5 lakh through KrazyBee’s resources. Commission rates will vary based on the specific agreement and the loan amount, the report said.

Additionally the company collaborated with ICICI Bank to offer a co-branded credit card with benefits on travel and flight bookings. The super app facilitates bill payments through its integration with the Bharat Bill Payment System (BBPS), the report said.

This comes as Tata Group continues to focus on its super app Neu better despite more than two years since its launch and investments exceeding $2 billion. KreditBee is also a lending partner for Tata Neu.