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We write about MobiKwik’s lending ambitions; and a worrying trend emerging across the technology industry...
As part of the acquisition, StackAI founders Tony Rosinol and Bernard Aceituno will join Asana.
The NBFC license will allow the fintech company to launch a new lending division -- MobiKwik Financial Services Pvt Ltd.
The fintech claims to be one of the first three apps in India to enable digital foreign exchange services to mobile.
MobiKwik's stock broking arm will deal in shares, stocks, securities, debt instruments, commodities, currencies and their derivatives.
MobiKwik and Lendbox struck a deal where MobiKwik gave up Rs 24 cr in income for Q1 FY25, and in return, Lendbox waived Rs 42 cr in facilitation fees. These adjustments impacted MobiKwik's current quarter's revenue and expenses.
While the company has disclosed financials till Q1FY25, the FY25Q2 and FY25Q3 will give a clear view on the performance of MobiKwik.
