Kissht Secures License for Mutual Fund Distribution

OnEMI, the parent company of lending technology firm Kissht, has obtained authorization from the Association of Mutual Funds in India (AMFI) to operate as a mutual fund distributor. This permission is granted to its wholly owned subsidiary, Invincible Minds, and is valid from July 13, 2026, to July 12, 2029.

The move follows OnEMI's incorporation of Invincible Minds last month with an investment of ₹90 crore (approximately $10.7 million). This expansion into mutual fund distribution aligns with Kissht's stated strategy to broaden its financial services beyond lending, as outlined in its previous disclosures.

Kissht will now need to complete the necessary empanelment process with asset management companies before it can begin offering mutual fund products to consumers. The company, founded in 2015, currently provides digital personal and business loans up to ₹5 Lakh (approximately $6,000), along with health insurance and secured loans.

Kissht listed on Indian exchanges in May, raising ₹850 crore (approximately $102 million) through a fresh issue of shares. A significant portion of these funds was earmarked for investment in its NBFC subsidiary, Si Creva, and for expanding into allied financial services.

The company has demonstrated strong financial growth. For the fiscal year 2026, net profit surged by 75% to ₹281.5 crore ($33.8 million), up from ₹160.6 crore in the prior fiscal. Operating revenue also saw a substantial increase of 63% year-on-year, reaching ₹2,179.3 crore ($261 million).

By entering the mutual fund distribution space, Kissht joins a growing number of fintech companies diversifying revenue streams into wealth management. The Indian direct mutual fund market is currently led by players such as Zerodha, Groww, and Angel One. Groww, for instance, recently launched 'Groww Prime' for mutual fund investment advisory services and reported managing ₹1.9 lakh crore ($22.8 billion) in direct mutual fund assets.