MobiKwik Expands Financial Services with New Subsidiary

MobiKwik has made a significant decision to broaden its presence within the financial services domain by establishing its entirely owned subsidiary, Mobikwik Financial Services Private Limited (MFSPL). The primary aim of MFSPL is to function as a Non-Banking Financial Company (NBFC). This new venture will facilitate financial services such as loans, leasing arrangements, and hire purchase options for various assets, including machinery, equipment, vehicles, ships, aircraft, and both movable and immovable properties.

In their filing with the stock exchange, MobiKwik disclosed that this strategic enhancement will allow the company to broaden and deepen its services beyond its current digital payment solutions. At this time, the operations for this new entity have not yet been initiated, and its turnover stands at nil.

Recent Collaborations and Developments

Recently, MobiKwik formed a partnership with Poonawalla Fincorp to deliver instant personal loans via its ZIP EMI product. Additionally, last month, the Gurugram-based company ventured into the securities broking market by launching its wholly owned subsidiary, Mobikwik Securities Broking Private Limited (MSBPL).

Impressive Growth Metrics

According to reports for Q3 FY25, MobiKwik has seen its registered user base swell to 172 million, alongside a merchant network comprising 5 million entities. For the third quarter of the previous fiscal year, the company announced a revenue of Rs 269 crore and a loss amounting to Rs 55.2 crore.

Upon the market’s close on Wednesday, MobiKwik’s shares were trading at around Rs 280 each.