Finz
“Can PhysicsWallah's captive NBFC become the default balance-sheet lender for India's education-financing funnel?”
Founded2024
HQNoida, Uttar Pradesh, India
IndustryFintech / Lending
The story
FinZ Finance is the captive lending arm of edtech giant PhysicsWallah, incorporated in 2024 and RBI-registered as an NBFC-ICC in September 2025. Its strategic role is to finance PW's education demand (coaching, higher-ed, study-abroad) on its own balance sheet rather than through third-party co-lenders — the lending-partners page explicitly states no co-lending arrangements exist. A secondary Employee Loan product targets salaried customers via EPFO/payroll-verified underwriting with eNACH repayment, giving FinZ a second consumer credit line beyond education.
Last 12 months
Product timeline
2024
FinZ Finance Private Limited incorporated (CIN U64990UP2024PTC205686) as a subsidiary of PhysicsWallah Limited.· founding
2025
Granted RBI Certificate of Registration B.12.00530 as an NBFC-ICC on 2 September 2025.· licensing
2025
Launched digital-first Education, Higher Education, and Employee Loan products on finz.finance.· lending
Regulated entities
1
regulatory licence held by Finz
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
4 layers disclosed in Finz’s embedded-finance stack
Payments / PSP
Paytm (payment gateway for EMI repayments)
Lending
in the full report
Open banking
in the full report
Unified APIs
in the full report
Accounting gap: none
6 more providers across 3 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.