MobiKwik Expands Into Financial Services with New NBFC Subsidiary

In a strategic move to broaden its financial services portfolio, MobiKwik has officially established Mobikwik Financial Services Private Limited (MFSPL), a wholly-owned subsidiary aimed at offering comprehensive non-banking financial services. This initiative marks a significant step for the digital payments giant, as it looks to expand its footprint in the financial sector.

MobiKwik’s New NBFC Subsidiary to Offer Diverse Financial Services

MFSPL will operate as a Non-Banking Financial Company (NBFC), providing a variety of financial services, including loans, leasing, and hire purchase across a wide range of assets.

These assets include machinery, equipment, vehicles, ships, aircraft, as well as movable and immovable property. This move aligns with MobiKwik’s strategy of diversifying beyond its core digital payment offerings and venturing into the broader financial services market.

The newly established entity is still in its initial phase, and as of now, it has not commenced operations, with turnover currently listed as nil. However, MobiKwik sees this as a pivotal moment in its journey to expand its offerings and strengthen its position in the fintech ecosystem.

MobiKwik Expands Footprint with New Partnerships

This announcement follows MobiKwik’s recent partnership with Poonawalla Fincorp to offer instant personal loans through its ZIP EMI product. The company is also actively branching out into the securities broking space, having launched its subsidiary, Mobikwik Securities Broking Private Limited (MSBPL), just last month.

MobiKwik’s growth trajectory is evident, with its user base reaching an impressive 172 million registered users and a merchant network of 5 million, according to Q3 FY25 reports. In the same quarter, the company reported a revenue of ₹269 crore, although it faced a loss of ₹55.2 crore.

Read More: Piramal Capital Gets RBI Nod to Operate as NBFC-ICC; Infuses ₹600 Cr into Subsidiary.

A New Chapter in MobiKwik’s Financial Journey

This new development signifies MobiKwik’s commitment to diversifying its services and tapping into the ever-expanding financial services sector. With an established presence in the digital payment space, the launch of MFSPL will enable MobiKwik to cater to a larger audience by providing them with more comprehensive financial solutions.

Conclusion

The fintech giant’s move into the NBFC space, coupled with its entry into securities broking, highlights the company’s ambitious plans to deepen its engagement in the financial sector. As MobiKwik continues to expand its offerings, the company is positioning itself as a key player in India’s rapidly growing digital finance landscape.

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