Xiaomi Partner
“Can Xiaomi turn its billion-device IoT and smartphone ecosystem into a full financial services platform — from consumer lending and auto insurance to cross-border payments — without becoming a bank?”
Founded in 2010 as a smartphone and MIUI software company, Xiaomi expanded into a broad consumer electronics and IoT ecosystem. From approximately 2018 onward, Xiaomi began building out an embedded finance layer — including a licensed consumer finance subsidiary (Xiaomi Consumer Finance, est. 2020), a commercial factoring arm, and point-of-sale financing partnerships (e.g. Axio in India). The company's entry into electric vehicles with the SU7 in 2024 created a new vertical into auto insurance, launched in 2026. Xiaomi's finance strategy mirrors its hardware model: partner with established institutions (banks, insurers) to offer branded financial products embedded in its device and services ecosystem.