Peak XV Exits MobiKwik in ₹130 Cr Deal as Fintech Turns NBFC Lender

Venture capital and growth investing firm Peak XV Partners has officially concluded its investment in One MobiKwik Systems Ltd. The venture firm liquidated its remaining 7.7% stake through a massive ₹130-crore block deal executed on 28 April, reported Mint.

This strategic move comes after MobiKwik receiving a non-banking financial company (NBFC) license from the Reserve Bank of India.

During the transaction, Peak XV sold approximately 6.08mn shares at an average price of ₹214 per share. The sale attracted several institutional buyers, including Florintree, Dymon Asia Capital, and Karma Capital. For Peak XV—previously known as Sequoia Capital India & SEA—the exit represents a successful three-fold return on their initial investment as an early supporter of the fintech. This departure signifies the last major private equity fund leaving MobiKwik's cap table, following the Abu Dhabi Investment Authority’s exit in late 2025.

The timing is pivotal, as MobiKwik transitions from a pure fintech player to an independent lender. Founder Bipin Preet Singh noted that the new license will allow the company to lend on its own books, significantly boosting profit margins and operational efficiency. Previously, the firm managed underwriting and collections but relied on partner lenders to provide capital. By operating as an NBFC, MobiKwik can now retain more of the "lending economics" and develop unique credit products.

The company’s financial health has shown marked improvement, reporting a consolidated net profit of ₹4 crore for Q3 FY26, a major turnaround from a ₹55.3 crore loss the prior year. Investors responded enthusiastically; despite the block deal being priced at a discount, MobiKwik's stock price surged over 18.5% to approximately ₹240 during intra-day trading. 

Fintech Lending Shift

India’s fintech sector is rapidly scaling, with the digital lending market projected to reach $350bn by 2026, according to a report published by JM Financial Services in February 2026.

The report highlights the significance of embedded finance, AI-led underwriting and account aggregator frameworks in speeding up the access to credit.

With more fintechs getting NBFC licenses, they are moving towards balance sheet lending to improve margins, reduce dependence on partner banks and build data-driven credit models – a similar shift that MobiKwik made when it moved to direct lending operations.