In a major move to expand its footprint in India’s financial ecosystem, MobiKwik has incorporated a new wholly owned subsidiary: Mobikwik Financial Services Private Limited (MFSPL). The newly established entity will operate as a Non-Banking Financial Company (NBFC) and offer a diverse range of lending and asset financing services.
From Payments to Full-Stack Financial Services
Best known for its digital wallet and payments services, MobiKwik is now pivoting toward becoming a full-stack fintech player. Through MFSPL, the company will provide financial solutions such as loans, leasing, hire purchase, and asset-based lending for vehicles, equipment, real estate, and more.
Although MFSPL is yet to commence operations, the move marks a long-term vision to diversify revenue streams and reduce reliance on payments alone. This will allow MobiKwik to tap into the booming demand for digital credit and lending in Tier 2 and 3 markets.
Recent Strategic Expansions
This development comes close on the heels of other significant announcements by the Gurugram-based fintech firm. In March, MobiKwik launched Mobikwik Securities Broking Private Limited (MSBPL), a wholly owned subsidiary focused on retail investing. It also partnered with Poonawalla Fincorp to roll out instant personal loans under its ZIP EMI product.
Together, these expansions indicate a broader shift in MobiKwik’s strategy — from being a transaction-focused business to a multi-service financial platform.
User Base and Financial Performance
As of Q3 FY25, MobiKwik reported:
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172 million registered users
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5 million merchant partners
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Revenue of ₹269 crore
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Net loss of ₹55.2 crore
The company aims to leverage its massive user base to cross-sell financial products and improve profitability in the long run. At the close of trading on Wednesday, MobiKwik’s stock was priced at around ₹280 per share.
A New Chapter in MobiKwik’s Journey
By stepping into the NBFC space, MobiKwik joins a growing list of fintech players like Paytm, Cred, and BharatPe aiming to own the credit value chain. This not only strengthens its core offerings but also signals a long-term commitment to lending and financial inclusion.
As MobiKwik awaits regulatory approvals and gears up for launch, the market will be watching how it leverages its new subsidiary to drive the next phase of growth.
