MobiKwik granted NBFC license by Reserve Bank of India
Fintech firm MobiKwik has received regulatory clearance to operate as a non-banking financial company. The subsidiary plans to launch lending operations within six months.
MobiKwik Financial Services Pvt Ltd (MFSPL) has secured a Certificate of Registration from the Reserve Bank of India (RBI) to function as a non-banking financial company (NBFC). The company expects to commence operations within the next three to six months.
The firm plans to utilize an asset-light co-lending model, partnering with banks and existing NBFCs to distribute credit. This transition allows MobiKwik to originate loans directly, supplementing its current role as a lending service provider. Management aims to disburse ₹5,000 crore in loans over the next three to four years, targeting both individual consumers and MSMEs.
CFO Upasana Taku indicated that the company plans to route approximately 10% of its digital lending disbursements through the new NBFC arm. This move is designed to offer greater control over product development and loan underwriting. Under a proposed 10:90 co-lending structure, MobiKwik will retain a small portion of the risk while leveraging its established credit infrastructure.
MobiKwik reported its fourth consecutive profitable quarter in Q2 FY27, with a net profit of ₹11.8 crore and a revenue increase of 9.4% year-over-year. The regulatory milestone follows a period of financial stabilization for the company.