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…
MobiKwik recently infused ₹61 crore into its lending arm, MobiKwik Distribution Services Private Limited (MDSPL), a wholly-owned subsidiary. The fintech company has also appointed Manish Pathania, a former executive from Bajaj Markets, as the chief business officer (CBO) of MDSPL. Pathania, with over two decades of experience in financial institutions like GE Money and HDB Financial Services, will oversee the digital lending business and drive its growth.
The move follows the RBI's conditional nod for MobiKwik’s NBFC application, requiring the migration of its lending service provider (LSP) business to an independent subsidiary before issuing the Certificate of Registration (CoR). This restructuring allows MobiKwik to launch a new lending division, enhance its lending capabilities, credit products’ stack, and serve a broader consumer and merchant base.
MobiKwik cofounder, MD, and CEO, Bipin Preet Singh, stated that consolidating the business and team under MDSPL, under Pathania's leadership, will give the company a dedicated structure to take this business forward.
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