Mirae Asset Financial Services

What Mirae Asset Financial Services does

Mirae Asset Financial Services (India) Pvt. Ltd. is a Mumbai-headquartered, RBI-licensed Non-Banking Financial Company established in 2020 as the lending arm of the South Korea-based Mirae Asset Group. The company operates a digital-first lending platform with no branch network for its core products, delivering secured loans against mutual funds and shares as well as unsecured personal loans to salaried individuals and retail investors in India. As of 30 September 2025, the platform had onboarded 18,500+ customers and held ₹6,200 crores+ of pledged securities across its books.

Name

Mirae Asset Financial Services

Legal name

Mirae Asset Financial Services (India) Pvt. Ltd.

Website

https://miraeassetfin.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

51–100 employees

Short description

Mirae Asset Financial Services is an India-based digital NBFC that offers secured loans against mutual funds and shares and personal loans to salaried individuals and retail investors via mobile and web platforms.

Ownership category

akta.pro rank

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Interest Income: The primary revenue stream comes from interest charged on loans. Interest rates range from 10.25% p.a. for loan against securities (charged only on utilized amount) to 11.49%-19.99% p.a. for personal loans. Interest calculation uses daily accrual on utilized amounts.
2. Processing Fees: Fixed processing fees charged upfront at loan origination. For loan against securities: ₹999 (1 year), ₹1,299 (2 years), ₹1,499 (3 years). For personal loans: 3% to 4% of loan amount deducted from disbursal.
3. Annual Maintenance and Other Charges: Zero annual maintenance charges (AMC). Additional revenue from bounce charges (₹500 + taxes), bank mandate swap charges (₹500), security invocation charges (₹2,000), collection charges (₹5,000), and legal charges on actuals.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Mirae Asset Financial Services is a licensed Non-Banking Financial Company providing secured and unsecured lending products to individual borrowers. Its core offerings include Loan Against Mutual Funds (LAMF), Loan Against Shares, and a premium high-value LAS Prime facility, alongside Personal Loans for salaried individuals. The entire loan lifecycle — onboarding, KYC, pledging, disbursal, and repayment — is delivered through a 100% digital platform with mobile app and web interfaces.

Product overview

Mirae Asset Financial Services is a licensed NBFC offering a focused portfolio of secured and unsecured lending products. The core offerings include Loan Against Securities (LAS) — a unified product encompassing Loan Against Mutual Funds and Loan Against Shares — along with the premium LAS Prime variant for high-value borrowers and Personal Loans for salaried individuals. The company also provides digital calculator tools for loan eligibility and EMI planning. All loan products feature 100% digital application processes with transparent pricing.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Loan Unsecured personal loan designed for salaried individuals to fund personal expenses without branch visits or physical paperwork. Loan amounts from Rs. 1,00,000 to Rs. 10,00,000 with flexible tenure of 6 to 48 months and interest rates from 11.49% to 19.99% p.a. (reducing balance). Includes zero foreclosure charges, no lock-in period, and 100% digital process.
• Loan Against Mutual Funds Secured loan against mutual fund units pledged as collateral via CAMS or KFintech, allowing borrowers to retain ownership of investments while accessing short-term funds. Offers up to 45% LTV for equity funds and 80% for debt funds, with maximum loan up to Rs. 1 crore (equity) or Rs. 3 crores (debt). Interest charged at 10.25% p.a. only on utilized amount with 15-minute processing time.
• Loan Against Shares Secured loan against shares pledged as collateral held in NSDL demat accounts. Offers up to 45% LTV with same-day disbursal and 100% digital process. Maximum loan up to Rs. 1 crore and minimum Rs. 25,000 at 10.25% p.a. interest on utilized amount.
• Loan Against Securities (LAS) Unified secured loan product enabling borrowers to pledge mutual funds and shares as collateral to access funds while retaining ownership of investments. Operates as an overdraft facility with interest charged only on utilized amount at 10.25% p.a. and features real-time securities revaluation with daily collateral value updates.
• LAS Prime Premium high-value loan facility for investors with large portfolios, offering loans from Rs. 50,000 up to Rs. 20 Crores against pledged shares or mutual funds. Branch-assisted with dedicated relationship manager support and supports both NSDL and CDSL securities. Interest at 10% p.a. on utilized amount, targeted at individuals, corporates, HUFs, and partnerships.

Quantifiable outcome

• 18,500+ happy customers
• +2 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature3 records

Partnerships

Four partnerships are on record, tiered core and supporting.

• CAMS (Computer Age Management Services)coreTechnology or IntegrationCAMS serves as a Registrar and Transfer Agent (RTA) for mutual fund operations. Mirae Asset Financial Services integrates with CAMS for online lien marking and pledging of mutual fund units held with CAMS. This integration enables the digital loan against mutual funds process.
• KFintechcoreTechnology or IntegrationKFintech is a Registrar and Transfer Agent (RTA) for mutual funds. Mirae Asset Financial Services integrates with KFintech for online pledging of mutual fund units, enabling customers to lien mark funds from both CAMS and KFintech in a single loan account.
• NSDL (National Securities Depository Limited)coreTechnology or IntegrationNSDL is a depository for securities in India. Mirae Asset Financial Services integrates with NSDL for online pledging of equity shares held in demat accounts. Currently, loan against shares is only available for shares held with NSDL (not CDSL).
• DigiLockersupportingTechnology or IntegrationDigiLocker is used for digital KYC verification during the loan application process. Customer Aadhaar details can be fetched directly from DigiLocker if linked with mobile number.

Scale indicators5 records

Recent moves5 records

Expansion highlights4 records

Emerging players

• Liquiloans: India-focused digital lending platform offering loan against mutual funds, directly competing with MAFS's LAMF product on speed, online pledging and retail-investor targeting.
• LoanTap Financial Technologies: Digital NBFC focused on salaried personal loans and flexible-ticket consumer credit; comparable product overlap on the unsecured personal-loan side and similar digital-origination DNA.
• Clix Capital: Indian digital NBFC offering personal loans, loan against property and consumer lending through a fintech-style platform — overlapping target customer (salaried, tier-1/tier-2) and product mix (PL + secured).

Direct peers

• Tata Capital Financial Services: NBFC arm of the Tata Group offering personal loans and secured lending products to salaried individuals and retail investors, competing for the same digital-first, brand-backed lending wallet share.
• IIFL Finance: Large Indian NBFC with a dedicated loan-against-shares and loan-against-mutual-funds business, comparable secured-lending product suite and similar salaried / retail-investor target segments.
• Aditya Birla Capital: Indian financial-services conglomerate with NBFC offering personal loans and lending products, leveraging a parent brand in a similar way MAFS leverages Mirae Asset Group's equity.
• Bajaj Finance: India's largest retail-focused NBFC, offering loan against shares and mutual funds as well as personal loans to salaried and self-employed customers. Closest comparable on product mix, target customer and digital distribution model.
• HDB Financial Services: Large Indian NBFC focused on salaried and self-employed personal loans and emerging secured products, with a comparable retail-lending customer profile and digital-led origination.

Broad incumbents

• Muthoot Finance: One of India's largest and most established NBFCs, dominant in gold-backed lending with growing personal-loan and LAP products — a broader-incumbent reference point for NBFC scale, regulation and funding cost.
• Piramal Capital & Housing Finance: Established Indian NBFC/HFC with diversified retail and SME lending, useful comparable on retail-lending risk management, capital adequacy and funding strategy for a smaller NBFC like MAFS.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/MiraeAssetFin
• Facebookfacebook.com/MiraeAssetFin

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mirae Asset Financial Services