 "Adani's Super app launches digital lending trials with fintechs and NBFCs")
Adani One, the ‘super app’ developed by the Adani Group, has initiated pilot projects with digital lending firms and non-banking financial companies (NBFCs) to provide loans through the platform, according to a report by Moneycontrol.
Operated under Adani Enterprise Limited’s digital branch, Adani Digital Labs Ltd, the company has established a partnership with KrazyBee Services, the NBFC subsidiary of the fintech company KreditBee, to offer personal loans.
The report quoted sources as saying that Adani One is also in discussions with other NBFCs and fintech companies to expand its credit product offerings.
Within this partnership, Adani Digital will function as a lending service provider (LSP), facilitating personal loans ranging from Rs 1,000 to Rs 5 lakh through KrazyBee’s resources. The commission rates will vary based on the specific agreement and the loan amount, the report said.
The news report quoted a source as saying, “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.”
Broader strategic vision
The latest development marks an advancement in Adani’s super app strategy, which was previously focused on travel and airport services. The company has also collaborated with ICICI Bank to offer a co-branded credit card, providing benefits on travel and flight bookings.
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Additionally, the app facilitates bill payments through its integration with the Bharat Bill Payment System (BBPS), which consolidates all utility billers, insurance premium payments, and loan repayments, the report said.
This move is noteworthy as another major conglomerate, Tata Group, continues to refine its super app, Neu, despite more than two years since its launch and investments exceeding $2 billion. KreditBee is also a lending partner for Tata Neu, along with Tata Capital, Cashe, Moneyview, and DMI Finance.
App expansion
Launched in December 2022, the Adani One app offers a variety of services, ranging from cab services, flight bookings, shopping at Adani-operated airports, rewards redemptions, a loyalty programme, product sampling, and porter services.
The loyalty programme on the Adani One app is similar to Tata Neu, allowing users to earn and redeem reward points for flight bookings, shopping, and other activities.
Adani One has strengthened its offerings by acquiring stakes in two travel tech companies over the past two years — Cleartrip, owned by Flipkart, with a 20 per cent stake, and Trainman, a train booking portal backed by Goodwater Capital.
Digital ambitions
Initially targeting users at Adani-run airports, Adani One has started expanding into more consumer businesses, aiming to establish a broader digital ecosystem. It introduced bill payment services last year and launched a co-branded credit card in June 2024, the report said.
The company’s annual report reveals that the app achieved a gross merchandise value (GMV) of Rs 750 crore for the financial year ending March 2024, with its user base expanding to 30 million.
The annual FY24 report said, “The digital business achieved a significant milestone with the successful validation of its platform’s alpha version (featuring its first theme, Travel) aiming to evolve into a premier super app catering to a wide range of frequent use cases.”
The company plans to reach 500 million users by 2030 with its super app, leveraging a range of Adani portfolios and partner services, the report said.