India’s MobiKwik targets $500 million NBFC loan book, CEO says

16:30

One MobiKwik Systems Ltd is aiming to build a loan book of around 50 billion rupees (approximately $522.5 million) through its non-banking financial company (NBFC) operations over the next three to five years, according to its chief executive officer.

The Gurugram-based fintech firm, known for its digital payments and financial services for consumers and merchants, is expanding its lending business after receiving approval from India’s central bank to operate as an NBFC. This licence allows the company to lend directly using its own balance sheet rather than relying solely on partner financial institutions.

Previously, MobiKwik functioned mainly as a lending service provider, distributing loans through external lenders. With its new structure, the company plans to assume more financial risk while increasing control over its credit operations.

CEO Bipin Preet Singh said the company’s long-term goal is to significantly scale its lending portfolio. He noted that the firm is not aiming for a modest expansion, but rather a substantial growth trajectory driven by both consumer and merchant lending.

Currently, the company’s loan book managed with partner lenders is valued at around 20 billion rupees. MobiKwik expects to launch its NBFC operations in the December 2026 quarter, initially focusing on consumer credit before expanding further into merchant lending, which is expected to become a core business segment.

Industry analysts view this move as part of a broader trend among Indian fintech companies seeking greater independence from traditional lending partners and aiming to capture a larger share of the rapidly growing digital credit market.