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The NBFC license will allow the fintech company to launch a new lending division -- MobiKwik Financial Services Pvt Ltd.
With this, Cred now holds multiple regulatory licenses across payments, lending, insurance, and investments.
The appointment comes after Rishi Gupta, MD and CEO, was arrested late last month under the GST Act.
Last year, Skydo raised $10 million in a Series A funding led by Susquehanna Asia Venture Capital.
This comes after Paytm received the central bank's final approval to operate as a payment aggregator last month.
Amazon had first invested in Axio (formerly Capital Float) in 2018, injecting $22 million at about $350 million valuation.
