Fintech company One MobiKwik Systems Ltd (MobiKwik) said its application for floating a non-banking financial company (NBFC) licence has been approved by the Reserve Bank of India (RBI).
The NBFC licence will enable the launch of a new lending division — MobiKwik Financial Services Private Ltd (MFSPL, a wholly-owned subsidiary), MobiKwik said in a regulatory filing.
MFSPL is envisaged to enable launch of new credit products with faster go-to-market secured and unsecured offering to consumers and MSMEs in underserved geographies, per the filing.
The NBFC’s operations will commence upon receipt of certificate of registration from RBI on the fulfilment of certain conditions.
Risk underwriting
MobiKwik said the NBFC will build on the Group’s 186 million plus customer base, strong tech infrastructure, risk underwriting and collection capabilities.
The NBFC is expected to get access to sustainable capital through the co-lending model and improve lending margins for the Group, per a company statement.
Upasana Taku, Executive Director, Co-founder & CFO, MobiKwik said, “The NBFC application approval is a pivotal step in MobiKwik Group’s evolution into a scaled financial services platform. We are especially happy that the application has been approved in under four months..”
“This gives us the regulatory framework to deepen our credit offerings while maintaining strong governance and risk discipline.”
MFSPL will help expand regulated lending capabilities, design innovative credit products, and serve a broader base of consumers and merchants with greater efficiency and control, per the filing.
“While the core focus will remain on Tier 2 and Tier 3 cities, the services will be offered across the nation. This strategy emphasises financial inclusion in under penetrated regions, thereby improving access to credit and driving greater mobilisation of financial services,” MobiKwik said.
Shares of One MobiKwik Systems Ltd jumped 10.98 per cent (or up ₹22.25) over the previous close. Its shares closed at ₹224.80 apiece on BSE on Monday against previous close of ₹202.55.
Published on April 27, 2026