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mPokket Expands Operations Into Tier-2 Cities

This strategic move aims to enhance customer support for the rapidly growing user base in Southern India while strengthening mPokket's presence in this vibrant region

mPokket Expands Operations Into Tier-2 Cities

Outlook Start-Up Desk

POSTED ON November 03, 2023 2:24 PM

mPokket, a digital lending platform, announced its plans to provide customer service in local languages, including Telugu, Kannada, Hindi etc. In line with these plans, the digital lender will be expanding its operations to many new cities by the end of FY$B!G(B24. By breaking down language barriers, mPokket is making its financial services more accessible to a broader spectrum of users, from diverse linguistic backgrounds. 

With a workforce of approx 2,200 employees, the company aims to generate employment opportunities for 4,000 individuals across cities like Hyderabad, Bhopal, Mysore, and Vijayawada, by the end of this fiscal year, as part of its expansion plans. 

With a significant 35-40 per cent of its current customer base hailing from the southern states of India, the company recognized the immense potential and burgeoning demand for its services in the region. This expansion is driven by a steadfast commitment to enhancing customer experience and accessibility.  

Speaking on the expansion, Gaurav Jalan, CEO and founder of mPokket, said, " This strategic expansion aligns with our vision to make financial services as accessible as smartphone technology itself.”    

An Instant Loan App that provides loans to college students and young working professionals, mPokket was founded by Gaurav Jalan in 2016. Borrowers can avail of loans ranging from Rs 500 to Rs 45,000. mPokket$B!G(Bs business model is similar to credit card lending but it focuses on a segment that is ineligible for traditional loans yet requires instant funds. The loan is disbursed to customers instantly and credited to their bank accounts via smartphones within seconds. Based on this model, the mobile application seamlessly delivers credit anytime, anywhere. 

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