Launch · Financial Services

MobiKwik gets RBI nod for NBFC licence

By Startup Enthusiast · 27 April 2026

What they do

MobiKwik has over 186 million users and an 18% share of India's prepaid wallet transaction value

The RBI approved its NBFC licence application for direct lending via subsidiary MobiKwik Financial Services

Shares rose over 15% as the company shifts from third-party partnerships to direct underwriting

The Reserve Bank of India granted approval for MobiKwik’s NBFC licence application.
This allows the company to begin direct loan origination and underwriting activities.
The subsidiary will operate once it receives the final Certificate of Registration.
Regulatory conditions must be fulfilled before full operational commencement.
Shares surged more than 15% following the regulatory announcement.
The stock hit a 52-week high of ₹241 on the BSE.
The move marks a strategic shift away from third-party lender partnerships.
MobiKwik aims to capture interest income directly through its own balance sheet.

MobiKwik serves over 186 million customers across India.
It supports approximately 5 million merchants for digital transactions.
The company holds 18% share of India’s prepaid payment instrument wallet value.
It targets consumers and MSMEs in Tier II and III cities.
AI and ML models personalize financial product offerings.
Secured and unsecured loans form the core lending portfolio.
A board-approved investment of ₹10 Cr supports leasing deals.
Q3 FY26 operating revenue reached ₹288.9 Cr, up 7.2% year-on-year.
The company reported a net profit of ₹4 Cr in Q3 FY26.

The subsidiary will begin operations upon receiving the Certificate of Registration.
MobiKwik will fulfill all remaining regulatory conditions set by the RBI.
The company plans to launch secured and unsecured loan products.
Direct underwriting capabilities will be activated immediately after approval.