MobiKwik expands into brokerage with new securities arm
The subsidiary will engage in securities trading, including stocks, commodities, and derivatives, potentially setting the stage for MobiKwik to compete with established brokerage firms such as Zerodha, Upstox, and Angel One.
MobiKwik has officially entered the brokerage industry with the incorporation of Mobikwik Securities Broking Private Limited (MSBPL), a wholly owned subsidiary.
The move, disclosed in a regulatory filing, positions the company to expand its financial services footprint beyond digital payments and lending.
The Ministry of Corporate Affairs’ Central Processing Centre approved the incorporation of MSBPL on March 3, 2025, the filing said. The subsidiary will engage in securities trading, including stocks, commodities, and derivatives, potentially setting the stage for MobiKwik to compete with established brokerage firms such as Zerodha, Upstox, and Angel One.
The decision to foray into stock broking aligns with MobiKwik’s broader ambitions of evolving into a comprehensive financial services platform. The company, which started as a digital wallet, has increasingly diversified into credit services, insurance, and wealth management.
The Gurugram-based fintech firm recently acquired a 3.39% stake in Blostem for Rs 1.49 crore. Founded in 2021, Blostem is a B2B banking infrastructure platform that specialises in fixed deposit (FD) aggregation.
Edited by Jyoti Narayan