MobiKwik arm secures SEBI nod to operate as stock broker
The license enables the MobiKwik subsidiary to carry out activities including buying, selling, dealing, and the clearing and settlement of equity trades, MobiKwik said.
MobiKwik Securities Broking Private Limited (MSBPL), a wholly-owned subsidiary of One MobiKwik Systems Ltd., has received regulatory approval from India’s capital markets watchdog to act as a stockbroker and clearing member, the company said in a statement Thursday.
The registration certificate was issued by the Securities and Exchange Board of India (SEBI) on July 1, 2025. The license enables MSBPL to carry out activities including buying, selling, dealing, and the clearing and settlement of equity trades, MobiKwik said.
This sets the stage for MobiKwik to compete with established brokerage firms such as Zerodha, Upstox, and Groww.
“The stock broking license marks a significant milestone for us as we enter the Indian equity markets,” said Bipin Preet Singh, Co-founder, Managing Director, and CEO of MobiKwik. “India has witnessed incredible growth in retail investor participation, and we believe our platform can help demystify investing for users taking their first steps into the markets. With this, we move a step closer to our goal of building a full-stack fintech platform that eases the adoption of digital financial services for the untapped populace of Bharat.”
The approval marks the second regulatory certification secured by the group this quarter. In April,
MobiKwik’s payments unit, Zaak ePayment Services Private Limited, received authorisation from the Reserve Bank of India to operate as an online payment aggregator.
MobiKwik has evolved from a digital wallet company into a broader financial services platform. It claims to have more than 176.4 million registered users and 4.6 million merchants. In recent years, the company has expanded into credit, insurance, and wealth management, offering services such as fixed deposits, mutual funds, SIPs, digital gold, and its proprietary Lens.Ai platform.
One MobiKwik Systems Ltd has incorporated a wholly owned subsidiary—Mobikwik Financial Services Private Limited (MFSPL)—as part of its strategic venture into the NBFC (non-banking financial company) space.
The Gurugram-based fintech firm said the new entity has been approved by the Ministry of Corporate Affairs and will be engaged in a range of financial services under the NBFC framework, including leasing, hire purchase, and financing of machinery, vehicles, property, and other assets.