Fintech Firm MobiKwik Receives NBFC Approval from RBI
According to a stock exchange disclosure, the Gurugram-based firm will roll out its lending operations through its wholly owned subsidiary, MobiKwik Financial Services Private Limited (MFSPL).
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Fintech firm One MobiKwik Systems has received approval from the Reserve Bank of India (RBI) for its non-banking financial company (NBFC) application, marking a key step in its transition towards becoming a full-stack financial services platform.
According to a stock exchange disclosure, the Gurugram-based firm will roll out its lending operations through its wholly owned subsidiary, MobiKwik Financial Services Private Limited (MFSPL). However, the company clarified that operations will begin only after it receives the Certificate of Registration (CoR) and meets all regulatory requirements.
The NBFC licence will enable MobiKwik to originate and underwrite loans directly, moving beyond its current model of working with third-party lenders. This shift is expected to improve margins, speed up product launches, and provide greater control over credit assessment and risk management.
The company plans to offer a mix of secured and unsecured loans to both consumers and micro, small and medium enterprises (MSMEs). Its focus will be on expanding access to credit in underserved Tier II and Tier III markets.
MobiKwik also intends to leverage its technology infrastructure, including AI and machine learning capabilities, along with its user base of over 186 million, to offer more personalised financial products.
With this approval, MobiKwik joins several fintech firms operating as regulated lenders with NBFC licences, including IndiaGold, Flipkart, Newtap, Lendingkart, KrazyBee, and Capital Float, giving them greater control over their credit businesses.
Fintech firm One MobiKwik Systems has received approval from the Reserve Bank of India (RBI) for its non-banking financial company (NBFC) application, marking a key step in its transition towards becoming a full-stack financial services platform.
According to a stock exchange disclosure, the Gurugram-based firm will roll out its lending operations through its wholly owned subsidiary, MobiKwik Financial Services Private Limited (MFSPL). However, the company clarified that operations will begin only after it receives the Certificate of Registration (CoR) and meets all regulatory requirements.
The NBFC licence will enable MobiKwik to originate and underwrite loans directly, moving beyond its current model of working with third-party lenders. This shift is expected to improve margins, speed up product launches, and provide greater control over credit assessment and risk management.
The company plans to offer a mix of secured and unsecured loans to both consumers and micro, small and medium enterprises (MSMEs). Its focus will be on expanding access to credit in underserved Tier II and Tier III markets.
MobiKwik also intends to leverage its technology infrastructure, including AI and machine learning capabilities, along with its user base of over 186 million, to offer more personalised financial products.
With this approval, MobiKwik joins several fintech firms operating as regulated lenders with NBFC licences, including IndiaGold, Flipkart, Newtap, Lendingkart, KrazyBee, and Capital Float, giving them greater control over their credit businesses.
