MoNeed

About MoNeed

MoNeed Fintech Private Limited was an Indian financial technology company that provided unsecured short-term cash loans and other financial services through a mobile application. The company was incorporated on December 24, 2019, with directors Xiaoliang Xu and Wenxi Wang.

The platform utilized artificial intelligence for data mining and in-depth analysis of user credit, aiming to maintain a risk control system throughout the user's credit life cycle. To apply for a loan, users needed to be Indian citizens between 21 and 40 years old and possess an Aadhaar card. The service was designed to offer a straightforward application process for unsecured loans, meaning no collateral was required. Repayment options were flexible, including net banking, UPI, and offline ATM payments, with a maximum annual interest rate of 36%.

The company's registered office was in Delhi, India. According to market intelligence platform PitchBook, MoNeed is now out of business as of April 2022.