Mumbai, April 27 -- The approval will enable the company to launch its lending arm, MobiKwik Financial Services Private Limited (MFSPL), a wholly owned subsidiary. The NBFC will allow the group to expand its regulated lending operations, introduce new credit products and improve execution through faster go-to-market capabilities.

The company said the NBFC structure will also support a co-lending model, provide access to sustainable capital and help improve lending margins over time. Operations will commence after the receipt of the Certificate of Registration (CoR) from the RBI, subject to fulfilment of certain conditions.

MobiKwik plans to leverage its technology platform, AI-led underwriting and a customer base of over 186 million use...