Gurugram: One MobiKwik Systems Ltd. (MobiKwik) has completed the transfer of its entire digital lending business, including associated employees, to its wholly owned subsidiary, MobiKwik Distribution Services Private Limited (MDSPL).
MDSPL has been established as a dedicated subsidiary to undertake MobiKwik’s digital lending activities, including the sourcing and distribution of lending products. The transfer follows requisite corporate approvals, including a special resolution approved by shareholders through a postal ballot on July 2, 2026. Subsequently, MobiKwik infused ₹60.85 crore as equity into MDSPL.
The restructuring follows the Reserve Bank of India’s approval of the Group’s NBFC application in April 2026, subject to the migration of the Lending Service Provider (LSP) business to a wholly owned subsidiary before issuance of the Certificate of Registration.
As part of the transition, Manish Pathania has been appointed Chief Business Officer of MDSPL and will lead the digital lending vertical. He will oversee the business’s next phase of growth, leveraging MobiKwik’s capabilities across customer origination, underwriting, credit risk management, servicing and collections.
Pathania brings close to two decades of experience in digital lending, business development, channel management and strategic planning. Before joining the MobiKwik Group, he headed the digital lending business at Bajaj Markets and has also worked with GE Money and HDB Financial Services.
Manish Pathania, Chief Business Officer, MDSPL, said, “With the transition of our existing lending business now complete, we have a strong foundation to build the next phase of our lending franchise. Our focus will be on responsible lending, disciplined risk management, and differentiated credit products for consumers and merchants. We see significant opportunities ahead as we build on the foundation created with our lender partners.”
Bipin Preet Singh, Co-founder, MD and CEO, MobiKwik, said, “The completion of the digital lending business transfer is an important milestone in MobiKwik’s lending journey. 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. The transition also supports our broader journey towards building a more integrated and regulated lending platform.”
The restructuring comes as MobiKwik’s digital lending business continues to scale. Financial Services Gross Profit increased 459% year-on-year in Q1 FY27, driven by improved credit quality and recovery efforts.
During the quarter, 32% of disbursals were generated through the Distribution Model, while 68% came through the FLDG (First Loss Default Guarantee) Model.
MobiKwik said it sees further potential to deepen credit penetration across its 9.5 crore engaged customers while maintaining a focus on underwriting, credit risk and portfolio quality.
The company has built its lending franchise over the past seven years through partnerships with banks and financial institutions, developing capabilities spanning loan origination, underwriting, servicing, portfolio management and collections.
With MDSPL now providing a dedicated operating structure, MobiKwik plans to scale its lending business further across its consumer and merchant ecosystem. The company is poised to achieve quarterly disbursals of ₹1,000 crore-plus in the upcoming quarters, supported by AI-led growth initiatives and new lender partnerships.
