MobiKwik gets RBI nod to start NBFC operations
What's the story
MobiKwik Financial Services Private Limited (MFSPL), a wholly-owned subsidiary of One MobiKwik Systems, has received the Reserve Bank of India's (RBI) Certificate of Registration to operate as a Non-Banking Financial Company (NBFC). The approval comes after an in-principle nod from RBI in April 2026. The company plans to launch its NBFC operations within three to six months.
Service expansion
MobiKwik's new NBFC to offer secured and unsecured credit products
MobiKwik's new NBFC will provide both secured and unsecured credit products to consumers and micro, small, and medium enterprises (MSMEs).
The company plans to disburse loans worth ₹5,000 crore over the next three to four years.
Initially, it will operate through an asset-light co-lending model with banks and other NBFCs.
This strategy will help expand its lending operations while sharing credit exposure with established financial institutions.
Growth trajectory
Current lending business disbursed ₹1,083 crore in Q2 FY27
MobiKwik's current lending business has disbursed ₹1,083 crore through 11 lending partners in Q2 FY27, marking a 34% year-on-year growth.
The company's gross profit from financial services grew 2.2 times during the quarter.
With the new NBFC license, MobiKwik can now originate loans directly through its NBFC, expanding its existing lending business which currently operates through partnerships with banks and other financial institutions.
Operational strategy
Approval will enhance MobiKwik's lending capabilities and profitability
MobiKwik plans to use its existing technology infrastructure, customer data, analytics capabilities, credit assessment models and collections systems to support its new lending operations.
The company hopes the license will give it more flexibility in creating lending products, speed up launches and create opportunities to improve profitability.
Upasana Taku, co-founder, executive director and CFO of MobiKwik said this approval is a major step in their journey toward financial services expansion.