Mahindra Finance set to enter new-age vehicle leasing and subscription business under Quiklyz brand

The stock is almost flat on an MTD basis while on a YTD basis, it is meagre up by 2.66 per cent. 

Mahindra & Mahindra Financial Services Limited (Mahindra Finance), a part of Mahindra Group, is one of India’s leading non-banking finance companies. Focussed on the rural and semi-urban sectors, the company has over 7.3 million customers with an AUM of over USD 11 billion. The company is a leading vehicle and tractor financier, which provides loans to SMEs and also, offers fixed deposits.   

Mahindra Finance announced the official launch of its leasing and subscription business ‘Quiklyz’. This venture is a new-age digital platform for vehicle leasing and subscription that aims to provide great convenience, flexibility, and choice to customers across cities. Mahindra Finance sees this as a great opportunity to create value for its stakeholders with a profitable business model and build a strong balance sheet out of emerging opportunities in this adjacent business vertical.  

Quiklyz is the first-of-its-kind digital journey on car usership with which the customer can access a brand-new car without all the hassles of car ownership. Quiklyz will take care of registration, insurance, scheduled and unscheduled maintenance, roadside assistance, etc.  

Quiklyz will be available for both corporate (B2B) and retail (B2C) customers. Under the B2B segment, the company aims to offer services to corporates and fleet operators while in the B2C segment, it will target customers with a millennial mindset. It will cover vehicles across all major auto OEMs, with a wide range of choices in terms of vehicle models, variants, and colours.  

The stock is almost flat on an MTD basis while on a YTD basis, it is meagre up by 2.66 per cent.