Milestone · Financial Services

OnEMI subsidiary gets mutual fund distribution license

By Startup Enthusiast · 17 July 2026

What they do

OnEMI operates a digital lending platform providing personal and business loans to new-to-credit customers

The company's wholly owned subsidiary Invincible Minds received an AMFI Registration Number to distribute mutual funds

This move supports OnEMI's expansion into non-lending financial services as outlined in its recent IPO prospectus

OnEMI Technology Solutions' wholly owned subsidiary Invincible Minds received an AMFI Registration Number (ARN).
The ARN is valid from 13 July 2026 to 12 July 2029 for mutual fund distribution activities.
Invincible Minds was incorporated on 17 June with Rs 9 crore paid-up capital.
The registration allows the subsidiary to distribute mutual funds after empanelment with Asset Management Companies.
The subsidiary cannot launch or manage its own mutual fund schemes under this registration.
This expansion aligns with OnEMI's plan to enter non-lending and allied financial services.
OnEMI recently completed an Initial Public Offering (IPO) in May 2026 raising Rs 850 crore.
The IPO proceeds included Rs 637.5 crore to strengthen the capital base of its NBFC arm.

OnEMI aims to diversify revenue streams beyond its core digital lending business. The move targets the growing demand for investment products among its existing customer base. Regulatory approval enables the company to offer wealth management solutions alongside credit products.

OnEMI operates a digital lending platform focused on underserved and new-to-credit customers.
It offers personal loans, business loans, and Loan Against Property through its NBFC Si Creva Capital Services.
The Kissht platform provides quick approvals with minimal documentation for personal and business loans.
The PaywithRING app delivers instant loans via zero documentation and direct bank transfers.
Registered users reached 74.6 million by end of June, showing 33.1% year-on-year growth.
The company has served 12.25 million customers since its inception in 2016.
Assets Under Management stood at Rs 8,001 crore by end of June, up 60.9% year-on-year.
Loan disbursements for Q1 FY2027 were Rs 3,812 crore, representing a 37% increase.
Loans Against Property accounted for 7.7% of AUM, compared to 2.5% in the prior year.