Unimoni, India - A Wizz Financial Group

What Unimoni, India - A Wizz Financial Group does

Wizzmoni Financial Services Ltd (formerly Unimoni Financial Services Ltd), operating under the brand Unimoni, is an RBI-licensed Non-Banking Financial Company and Authorized Dealer Category II headquartered in Bangalore, India, with an administrative office in Kochi. Founded around 1999/2000 and rebranded to Wizzmoni in 2024 under its parent Wizz Financial Group, the company serves over 4.6 million customers through a hybrid distribution model combining 307 physical branches and 15,000+ agent locations across India with digital channels including a website, mobile app, dedicated portals (Remitforex, Wizz Voyager), and partner platforms (UMart). The company is led by a workforce of approximately 3,600 professionals (per company claims, versus a stated 638 in firmographic data) and supports outbound transactions to 300+ global destinations across corridors in the UK, US, Canada, Australia, New Zealand, UAE, Italy, and Germany.

The core product suite centers on foreign currency exchange and outward remittance services via SWIFT, FCDD, and Travel Card rails, augmented by collateral-based gold lending, education loans for overseas study (via Unimoni Credila), a digital wallet, BBPS-enabled bill payments, IATA-accredited travel services, and insurance distribution. Technology stack includes SWIFT network integration, IMPS-enabled domestic money transfers, the Wizz Voyager multi-currency prepaid travel card (loadable in 16+ currencies), Zetexa-powered eSIM services for travelers, and integrations with Amadeus and Galileo for flight bookings. All transactions are intermediated through fully owned subsidiaries including Wizz Voyager (travel cards), Remitforex (online remittance portal), Unimoni Travel (holidays), and Unimoni Credila (education loans).

Revenue is generated primarily through transaction fees and foreign exchange spreads on remittance and currency exchange, interest income on gold and education loans, commissions on travel bookings and insurance distribution, and fees on wallet and BBPS services. The pricing model is quote-based and not publicly disclosed; taxes include 18% GST on transaction fees and forex margins plus applicable TCS on remittances above regulatory thresholds. Customer base is heavily retail and SMB-oriented — students studying abroad, emigrants, families maintaining relatives overseas, travelers, and small businesses requiring forex and international payments — with no disclosed large-enterprise or institutional anchor customers.

Name

Unimoni, India - A Wizz Financial Group

Legal name

Wizzmoni Financial Services Ltd

Website

https://unimoni.in

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Wizzmoni Financial Services Ltd (brand: Unimoni), a Wizz Financial Group company, is an RBI-licensed Indian NBFC and AD II money changer providing foreign currency exchange, outward remittance, multi-currency travel cards, gold loans, education loans, digital payments, and travel services to individuals and SMBs across India via 307 branches, 15,000+ agents, and digital channels.

Ownership category

akta.pro rank

Product category

Foreign Exchange and Cross-Border Remittance Services

NAICS

Nondepository Credit Intermediation (5222)

akta.pro primary industry

Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)

akta.pro secondary industry

Alternative Payments & Digital Wallet Acceptance (A2A, RTP, wallets) (THALAHAH)

Keywords

• Foreign exchange services
• Outward remittance services
• International money transfers
• Forex travel cards
• Gold loan services

Headquarters

HQ city

Bangalore (Registered Office)

HQ country

India

HQ region

Asia

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. International Money Transfer/Remittance Services: Outward remittance services through SWIFT/Telegraphic Transfer and FCDD (Foreign Currency Demand Draft) modes. Revenue generated through transaction fees and foreign exchange margins on international money transfers.
2. Foreign Currency Exchange: Buy and sell foreign currencies at competitive exchange rates. Revenue generated through exchange rate margins and spread on currency transactions.
3. Gold Loans: Quick disbursal loans against gold collateral with competitive interest rates. Revenue generated through interest income on gold loans.
4. Travel Services: Air ticket booking, holiday packages, travel card sales through IATA-accredited agency. Revenue from booking commissions and service fees.
5. Insurance Distribution: Distribution of health insurance and other insurance products. Revenue through commission on insurance policies sold.
6. Unimoni Wallet Services: Digital wallet for payments, money transfers, bill payments with fees for bank-to-wallet transfers and certain transactions.

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels8 records

Core offering

Unimoni (legally Wizzmoni Financial Services Ltd) is an RBI-authorized AD II NBFC that buys and sells foreign currency and executes outward remittances via SWIFT and FCDD for purposes including overseas education, family maintenance, emigration, and gifts. It complements forex with a proprietary multi-currency prepaid travel card (Wizz Voyager), gold-backed loans, IMPS-based domestic money transfers, an in-house digital wallet, BBPS bill payment services, IATA-accredited travel booking, and education loan distribution under the Unimoni Credila brand.

Product overview

Unimoni (now Wizzmoni Financial Services Ltd) is a WizzFinancial Group company offering a comprehensive suite of financial services. The product portfolio centers on foreign exchange and international money transfer as core offerings, supplemented by lending products (Gold Loan, Education Loan), digital payments (Unimoni Wallet, BBPS), and travel services (Travel Card, Travel & Holidays). Key products include: Foreign Currency Exchange for buying/selling foreign currencies; International Money Transfer via SWIFT/FCDD for outward remittances; Wizz Voyager Multi-Currency Forex Travel Card for international travel; Gold Loan for collateral-based lending; Unimoni Wallet for domestic digital payments; and Travel & Holidays for IATA-accredited booking services. The company operates 300+ branches across India with AD II license from RBI.

Differentiator

Problem solved

Functional benefit

Brands

• Wizz Voyager: Multi-currency forex travel card brand offering prepaid travel cards loadable with 35+ global currencies for international travel payments and ATM withdrawals.
• Unimoni Wallet
• Remitforex
• Unimoni Credila

Products and services

• Foreign Currency Exchange Buy and sell foreign currencies (including bank-beating exchange rates) with rate alerts and buyback options for unused currency after travel, served at 300+ branches across India to retail and corporate customers.
• International Money Transfer (Outward Remittance) Secure outward remittance via SWIFT and FCDD for purposes including overseas education, family maintenance, emigration, gifts, and medical expenses, delivered to 300+ global destinations with funds typically credited within 1-2 business days.
• Wizz Voyager Multi-Currency Forex Travel Card Prepaid multi-currency card loadable with 16+ global currencies (USD, AED, AUD, CAD, CHF, EUR, GBP, JPY, SGD and more) for international payments, ATM withdrawals, and locked-in exchange rates; card issued free via the wizzvoyager.com portal.
• Gold Loan Quick-disbursal loans secured against gold collateral offering maximum loan value, lowest interest rates, easy documentation, and doorstep service for Indian retail borrowers needing short-term liquidity.
• Education Loan (Unimoni Credila) Education financing for Indian students pursuing overseas study, sourced through lending partners and distributed under the Unimoni Credila sub-brand.
• Unimoni Wallet Virtual prepaid wallet for domestic digital payments within India, supporting money transfers, mobile recharge, DTH recharge, utility bill payments, and IMPS-enabled domestic money transfers.
• Domestic Money Transfer IMPS-enabled domestic money transfer service for sending and receiving funds within India 24x7 to any bank account, available at branches, online, and via the mobile app.
• Travel & Holidays IATA-accredited travel agency offering domestic and international air ticket booking, holiday packages, hotel reservations, visa assistance, and emigration clearance services via 10 IATA locations and 300+ branches.
• Insurance Distribution Distribution of health insurance plans with tax savings under Section 80D, featuring individual or family coverage, pre- and post-hospitalization cover, daycare procedures, no co-payment, and guaranteed lifelong renewal.
• Bharat Bill Payment System (BBPS) Bill Payment One-stop bill payment solution integrated with the Bharat Bill Payment System for utility bill payments, mobile recharge, DTH recharge, school fees, and similar recurring payments.
• eSIM Service Digital eSIM connectivity service for international travelers, operated through the Zetexa platform to support overseas mobile data usage during trips.
• GIC Account Payments (Canada) Guaranteed Investment Certificate (GIC) payments for Canadian student visa applications, supporting Indian students funding their studies through approved GIC partners in Canada.
• German Blocked Account Blocked account service for German student visa applicants, transferring the required blocked-account funds in compliance with German immigration requirements for Indian students.

Quantifiable outcome

• 99% timely payment record for international transfers
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature3 records

Partnerships

One partnership is on record.

• Wizz Financial GroupcoreOthersParent company of Unimoni Financial Services Ltd (now Wizzmoni Financial Services Ltd). Wizz Financial Group provides strategic direction and brand umbrella for the company's financial services operations including money transfers, forex, payments, and credit solutions.

Scale indicators8 records

Recent moves5 records

Expansion highlights6 records

Direct peers

• Remitly: Digital remittance app with strong India-to-US, UK, and Canada corridors. Remitly directly overlaps with Unimoni's SWIFT transfer and travel card products for the Indian diaspora and student segments.
• BookMyForex: India's largest online forex marketplace offering currency exchange, outward remittances, and forex cards. BookMyForex competes head-on with Unimoni's foreign currency exchange, travel card, and remittance offerings in the same Indian retail segment.
• Wise: Digital-first cross-border money transfer platform serving Indian customers for education and family maintenance remittances. Wise is the leading pure-digital challenger competing for the same India-outbound flow that is Unimoni's core revenue line.
• EbixCash: India-based fintech offering outward remittances, forex cards, travel, and payment solutions via a digital plus distribution-led model. EbixCash is a direct peer to Unimoni in the India-outbound remittance and prepaid card markets.

Broad incumbents

• MoneyGram: Large global remittance operator competing directly with Unimoni in India-to-global corridors. MoneyGram's cash-pickup and digital channels overlap with Unimoni's branch and online remittance offerings.
• Western Union: Global leader in cross-border money transfers with strong India presence. Western Union is the broadest incumbent in remittances that Unimoni competes with on SWIFT-based outward transfers from India to 300+ destinations.
• ICICI Bank: Large Indian private bank offering outward remittances, multi-currency forex cards, travel services, and gold loans. ICICI's forex and remittance products compete directly with Unimoni across multiple product lines.
• Thomas Cook (India): Indian forex and travel services company offering currency exchange, remittances, travel cards, and tour packages. Thomas Cook is the closest broad incumbent in the same Indian forex/travel/card stack that Unimoni competes in.

Regional players

• Manappuram Finance: India-listed NBFC specializing in gold loans and adjacent financial services with significant branch presence. Manappuram competes with Unimoni's gold loan business and overlaps in tier-2/3 India distribution for personal lending.
• Muthoot Finance: India's largest gold loan NBFC with an extensive branch network serving similar small-town India. Muthoot overlaps with Unimoni on the gold loan product line and on branch-led financial distribution in tier-2/3 markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/wizzmonifs
• LinkedInlinkedin.com/company/unimoniind

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries4 records

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 Unimoni, India - A Wizz Financial Group