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MobiKwik Infuses ₹61 Cr In Lending Arm, Appoints Ex-Bajaj Markets’ Manish Pathania As Its CBO

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MobiKwik Infuses ₹61 Cr In Lending Arm, Appoints Ex-Bajaj Markets’ Manish Pathania As Its CBO

Months after receiving a regulatory nod for its NBFC licence, MobiKwik has now completed the transfer of its digital lending operations and associated team to its wholly owned subsidiary, MobiKwik Distribution Services Private Limited (MDSPL). 

Beyond the restructuring, the fintech company has also announced that it will be pumping ₹60.85 Cr as equity into MDSPL.

To strengthen the subsidiary’s operations, MobiKwik has appointed former Bajaj Markets exec Manish Pathania as the chief business officer (CBO) of MDSPL. Pathania, who brings nearly two decades of experience across financial institutions like GE Money and HDB Financial Services, will be responsible for supervising the digital lending business and drive its next phase of growth. 

The development comes months after RBI gave a conditional nod to MobiKwik’s NBFC application, specifying that its lending service provider (LSP) business be migrated to an independent subsidiary before issuing the Certificate of Registration (CoR). 

The NBFC licence will allow MobiKwik to launch a new lending division that will enhance its lending capabilities, credit products’ stack and serve a broader base of consumers and merchants.  

The transfer of its digital lending operations to MDSPL has been executed to fulfill this criteria.

“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,” MobiKwik cofounder, MD, and CEO Bipin Preet Singh said. 

MDSPL was incorporated last year to oversee financing, leasing, and hire-purchase activities across commercial assets including machinery, equipment, plants, vehicles, aircraft, ships, and real estate.


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