RBI licence for MobiKwik’s NBFC: lending arm aims to give out Rs 5,000 crore in loans within three to four years

One MobiKwik Systems said on Friday, 6 November, that its lending subsidiary, MobiKwik Financial Services Private Limited, has won an RBI licence to work as a non-banking financial company (NBFC). The Gurugram-based payments firm, which owns the unit fully, had cleared the central bank’s first stage of approval in April 2026. The final certificate of registration lets it lend money on its own books for the first time.

So far MobiKwik has worked as a lending service provider. It finds borrowers through its app and passes them to regulated banks and NBFCs, which carry the loans. That business arranged Rs 1,083 crore of loans through 11 partner lenders in the July-September quarter, 34% more than a year earlier, and the gross profit it earned from financial services rose 2.2 times over the same quarter, the company said.

Co-lending first

MobiKwik expects the NBFC to open for business within three to six months. It will start with an asset-light model, co-lending with banks and other NBFCs so that partners share the funding, rather than putting up all the money itself. It plans to offer both secured and unsecured credit to individual consumers and to micro, small and medium enterprises, and wants to have disbursed Rs 5,000 crore within three to four years.

The lending arm will run on technology, data analytics, credit scoring models and collection teams that MobiKwik already has. MobiKwik will keep its current partnerships with outside lenders alongside the NBFC.

Co-founder, executive director and chief financial officer Upasana Taku said the licence moves MobiKwik closer to being a single platform that handles everything from payments to loans. She said the 196 million users and 5 million merchants on its payments network give the lending business room to grow, and added that the NBFC would expand with careful checks on borrowers and tight risk controls. MobiKwik listed on the stock exchanges in December 2024.