One MobiKwik Systems Ltd Targets ₹50 Billion NBFC Loan Book in 3–5 Years
Indian fintech firm MobiKwik plans to build a ₹50 billion ($522.5 million) loan book through its newly approved non-banking financial company (NBFC) over the next three to five years, according to CEO Bipin Preet Singh. The Gurugram-based company received the Reserve Bank of India’s approval for an NBFC licence in April and currently distributes loans through partner lenders.
Singh said the company’s lending ambitions go well beyond a small-scale operation, with the current loan book via partner lenders already standing at around ₹20 billion. MobiKwik expects to start NBFC operations in the December 2026 quarter with consumer lending before expanding aggressively into merchant loans, which the company sees as a major growth area.
The company is also increasing investments in its merchant business and aims to grow the segment tenfold by fiscal 2028. While revenue growth from payments has remained under pressure due to the rise of fee-free UPI transactions, MobiKwik reported a 58% jump in gross merchandise value in the fourth quarter. Singh said the growing payments network would help the company cross-sell more lending products to consumers and merchants.
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