Gurugram-based digital payments company MobiKwik has taken a big step toward becoming a full fintech platform by setting up a new NBFC subsidiary company. This company is named Mobikwik Financial Services Private Limited (MFSPL) and is completely owned by MobiKwik. This move shows the company’s plans to grow beyond digital payments and enter into lending and credit services.
The new entity, MFSPL, has been approved by the Ministry of Corporate Affairs. Although the company has not yet applied for a Non-Banking Financial Company (NBFC) licence, the announcement marks a key step in MobiKwik’s strategy. MFSPL will provide loans and also offer services such as hire purchase and leasing for movable and immovable assets like vehicles, equipment, ships, and even aircraft.
MFSPL has been formed with a paid-up capital of Rs 1 lakh and has not yet started business operations. It also does not have any turnover currently. However, MobiKwik said this is part of their long-term strategy to build a full fintech ecosystem. The company shared in a regulatory filing that this structure allows them to expand credit services to a wider audience.
MobiKwik Clarifies Related Party Dealings
Since MFSPL is a wholly owned company of MobiKwik, it falls under related party transactions. But MobiKwik assured that all steps are being taken at arm’s length and in full compliance with legal and regulatory guidelines. The creation of this new structure is expected to bring in greater financial flexibility as the company targets new areas of growth.
This development comes soon after MobiKwik entered the securities broking industry through its other subsidiary, Mobikwik Securities Broking Private Limited. In addition, the company has partnered with Poonawalla Fincorp to offer instant personal loans through its ZIP EMI product. These moves are in line with MobiKwik’s plan to transform itself from just a payment app to a complete financial services provider.
About Mobikwik and Its Market Presence
Founded in Gurugram, MobiKwik has grown into one of India’s major digital payment companies. It serves over 172 million registered users and has a merchant network of 5 million across the country. In the third quarter of FY25, the company earned Rs 269 crore in revenue but also reported a loss of Rs 55.2 crore. Despite the loss, the company continues to focus on innovation and long-term goals in the fintech sector.
With the launch of MFSPL and other financial ventures, MobiKwik is making clear progress toward building a strong and diverse fintech platform. By entering new spaces such as broking, instant loans, and now NBFC services, the company is aiming to deliver a complete range of financial solutions to its growing user base.
