Wizz Financial, formerly Unimoni, is realigning its operations to target the Indian market, with a public listing planned for 2029. The fintech group is aggressively expanding its gold loan portfolio and digital services, aiming to capture growth in Tier 2 to Tier 4 cities despite recent pressure on net profit.
Wizz Financial, a global fintech group, has outlined a roadmap toward an initial public offering (IPO) in 2029, supported by a significant shift in its business strategy toward the Indian market. The firm, which acquired the legacy Unimoni operations, has rebranded these as Wizzmoni. With India now accounting for approximately 60% of its global revenue, the company is attempting to consolidate its position by offering a unified platform for cross-border payments, wealth management, insurance, and lending.
To support this goal, the company plans a capital raise in 2027, which will serve as a key milestone before heading to the public markets. The company’s strategy relies on a hybrid model that mixes digital tools with a physical presence, targeting smaller Tier 2 to Tier 4 cities. By integrating its cross-border services directly with the Unified Payments Interface (UPI) and utilizing its status as a licensed lending entity, the company aims to reduce its reliance on intermediary banks and lower operational friction.
A significant part of this growth strategy is centered on secured lending, specifically gold loans. The company’s gold loan book is currently valued at ₹2,000 crore, and management has set a target to expand this to ₹4,500 crore by next year. However, investors may track the company’s profitability closely. In fiscal 2025, net profit fell to ₹9 crore, compared to ₹31 crore in the previous year. This decline suggests that the company is currently facing cost pressures while scaling its operations and investing in new infrastructure.
The gold loan sector in India is highly competitive, with both traditional banks and other lending companies aggressively increasing their presence. Furthermore, the Reserve Bank of India (RBI) continues to maintain strict oversight over the sector, including norms regarding loan-to-value (LTV) ratios and asset classification. For Wizz Financial, maintaining regulatory compliance while managing the operational challenges of a rapid, large-scale expansion into smaller cities will be a critical area of focus. The company’s ability to successfully integrate its diverse financial services and improve its profit margins will be key factors for market observers as it moves toward its planned 2029 listing.