Venture capital firm Peak XV Partners (formerly Sequoia Capital India & SEA) has fully exited its investment in MobiKwik as of Tuesday, April 28, 2026.
The firm liquidated its remaining 7.7% stake in the fintech company through a block deal valued at approximately ₹130 crore ($13.8 million). This exit marks a significant milestone, as Peak XV was one of the earliest institutional backers of the digital payments platform.
1. Details of the Block Deal
The exit was executed via an open market transaction on the National Stock Exchange (NSE).
- Shares Sold: Approximately 60.6 lakh to 61 lakh shares.
- Average Price: ₹214 per share.
- Total Valuation: Reported between ₹130 crore and ₹133 crore.
- Investor Returns: Peak XV reportedly exited at three times its initial investment value, concluding a decade-long investment cycle.
- The Buyers: The stake was picked up by a group of institutional investors, including Florintree Advisors, Viridian Asset Management, Dymon Asia, Societe Generale, and Karma Capital.
2. Strategic Context: The NBFC Pivot
The timing of the exit is pivotal, coming just 24 hours after MobiKwik received a major regulatory boost.
- RBI Approval: On April 27, 2026, the Reserve Bank of India (RBI) granted MobiKwik a Non-Banking Financial Company (NBFC) license for its new subsidiary, MobiKwik Financial Services.
- Stock Surge: Following the NBFC news, MobiKwik’s stock price rallied over 18.5%, hitting an intraday high of roughly ₹242. This surge provided a high-liquidity window for Peak XV to execute its final exit.
- Business Model Shift: The license allows MobiKwik to transition from a “capital-light” fintech intermediary to a direct lender. By lending on its own books, the company expects to significantly improve its margins and develop proprietary credit products for its 186 million users.
3. Financial Turnaround
MobiKwik’s recent financial performance has moved into the black, making it a more attractive target for the institutional buyers who replaced Peak XV.
| Metric | Q3 FY26 (Dec 2025) | Q3 FY25 (Dec 2024) |
| Operating Revenue | ₹289 Crore | ~₹270 Crore |
| Net Profit / Loss | ₹4 Crore (Profit) | ₹53 Crore (Loss) |
| Market Cap (April 2026) | ~₹1,850 Crore | N/A |