Xiaomi’s Mi Credit disbursed loans worth over Rs 125 crore in India

Bengaluru: Chinese handset maker Xiaomi on Thursday announced that over Rs 125 crore worth loans were disbursed via its digital lending solution Mi Credit in India till December 2019.

Initially launched in May 2018 and then relaunched on December 3 last year, Mi Credit is an online curated marketplace for lending, to offer personal loans to Mi Fans.

According to the company, 50 per cent of loans were disbursed to non-Xiaomi Android smartphone users.

Xiaomi’s current lending partners are primarily non-bank financial institution (NBFCs) or fintechs such as Aditya Birla Finance Limited, Money View, EarlySalary, Zestmoney and CreditVidya. (IANS)

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