One MobiKwik Systems on Friday (November 6) said its wholly owned subsidiary, MobiKwik Financial Services Private Limited (MFSPL), has received a Certificate of Registration from the Reserve Bank of India (RBI) to operate as a non-banking financial company (NBFC).
The registration follows the RBI’s in-principle approval granted in April 2026. The company said the NBFC is expected to commence operations over the next three to six months, initially through an asset-light co-lending model in partnership with banks and other NBFCs.
MFSPL plans to offer secured and unsecured credit products to consumers and micro, small and medium enterprises (MSMEs). The NBFC aims to disburse loans worth Rs 5,000 crore over the next three to four years, according to the company.
The registration will allow MobiKwik to originate loans directly through its NBFC, in addition to its existing lending service provider (LSP) business, which facilitates credit distribution through partnerships with regulated lenders.
The company said its existing technology infrastructure, data analytics capabilities, risk assessment models and collections operations would support the new lending business.
MobiKwik’s existing lending business recorded disbursals of Rs 1,083 crore through 11 lending partners in the second quarter of FY27, registering 34% year-on-year growth, the company said. Gross profit from financial services grew 2.2 times during the quarter.