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CosmicTaco
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MobiKwik Enters Stock Broking Market, Challenges Zerodha

  • MobiKwik has launched a new subsidiary, Mobikwik Securities Broking Private Limited (MSBPL), to compete with leading stockbroking platforms like Zerodha and Groww.
  • The initial paid-up share capital for MSBPL is INR 1 Lakh, with plans to invest an additional INR 2 Cr in the future.
  • With a user base of INR 17.2 Cr, MobiKwik aims to capture a significant portion of India's growing investment tech market, projected to be worth $74 Bn by 2030.
  • The incorporation of MSBPL was approved by the corporate affairs ministry on March 3.
  • This move marks MobiKwik's entry into new verticals, expanding its footprint in the fintech sector.

Source: Inc42

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