MobiKwik Secures RBI NBFC Approval To Expand Lending Capabilities & Strengthen Fintech Platform

Gurugram: MobiKwik has taken a major step in its evolution as a financial services platform after securing regulatory approval for its non-banking financial company (NBFC) application from the Reserve Bank of India. The development marks a turning point as the company deepens its presence in India’s credit ecosystem.

The approval paves the way for the launch of MobiKwik Financial Services Private Limited (MFSPL), a wholly owned subsidiary that will anchor the group’s lending operations. With this, MobiKwik gains the ability to operate within a regulated framework, offering greater control over its credit products and enabling more structured expansion into lending. The company expects this move to strengthen its full-stack fintech positioning.

A key advantage of the NBFC license lies in faster go-to-market capabilities. By bringing lending operations in-house, MobiKwik aims to accelerate the rollout of both secured and unsecured credit products tailored for consumers and MSMEs. The company also highlighted that the new structure would support improved lending margins while enabling access to sustainable capital through co-lending arrangements.

The leadership views the approval as both a validation of the company’s credibility and a catalyst for future growth. Upasana Taku, Executive Director, Co-founder and CFO, indicated that the approval—granted in under four months—reflects regulatory confidence in the company’s governance and operational discipline. She emphasized that the license would help deepen credit offerings while maintaining a strong focus on responsible lending practices and financial inclusion.

MobiKwik plans to leverage its existing strengths, including a customer base of over 186.6 million users and a network of 4.79 million merchants. Its established technology infrastructure, along with risk underwriting and collections capabilities, is expected to play a central role in scaling the lending business. The company also intends to deploy artificial intelligence and machine learning models to deliver more personalized financial products.

Geographically, the focus remains on expanding access to credit in Tier 2 and Tier 3 cities, where financial services penetration remains relatively low. By targeting underserved regions, MobiKwik aims to broaden financial inclusion while tapping into high-growth markets across the country. The NBFC operations will commence once the company receives the Certificate of Registration from the RBI, subject to meeting certain conditions. This milestone reinforces MobiKwik’s long-term strategy of building a comprehensive digital financial ecosystem.

Disclaimer: This article is based solely on the company’s official press release dated April 27, 2026, and does not include independent verification or external analysis beyond the disclosed information.