Fintech firm MobiKwik transferred its entire digital lending business to its wholly owned subsidiary MobiKwik Distribution Services nearly four months after the entity received regulatory approval for a non-banking financial company (NBFC) licence.
The company appointed Manish Pathania as the chief business officer (CBO) of MDSPL to lead the lending vertical.
This follows a Rs 60.5 crore equity infusion in the subsidiary by parent One MobiKwik Systems.
“Earlier, in April 2026, the RBI had approved the Group’s NBFC application, subject to the condition that the LSP (Lending Service Provider) business be migrated to a wholly owned subsidiary before the Certificate of Registration (CoR) is issued,” the company said in a statement.
The company expects over Rs 1,000 crore in quarterly disbursals driven by AI-led growth initiatives and new lender partnerships.
“We have built a strong lending franchise through partnerships with banks and NBFCs, while developing capabilities across the lending value chain. Consolidating the business and team under MDSPL, with Manish leading the subsidiary, gives us a dedicated structure to take this business forward,” said Bipin Preet Singh, co-founder, MD and CEO, MobiKwik.
MobiKwik said that during the first quarter of financial year 2026-27 (Q1FY27), 32 per cent of its disbursals were through the distribution model, whereas the rest were through the first loss default guarantee (FLDG) model.
“The creation of MDSPL as a dedicated digital lending subsidiary provides a focused operating structure for the digital lending business as the Group propels its broader financial services strategy,” the firm added.
