LKP Finance Acquires Stake in Gyftr, Moves to Surrender NBFC Licence

LKP Finance Ltd, a listed financial services company, has acquired a strategic stake in Gyftr (Vouchagram Private Limited), signalling a significant shift in its business strategy.

The move marks LKP Finance's transition from a traditional NBFC-led model to a platform-focused fintech approach centred on payments and digital rewards.

As part of this realignment, LKP Finance has applied to surrender its NBFC licence, underlining its intent to focus on transaction-driven and scalable fintech operations.

The company said the change reflects evolving opportunities in digital payments, rewards, and merchant engagement, areas that have seen rapid growth in India's financial technology sector.

The transaction structure involves LKP Finance holding a 22 percent stake in Mufin Pay, while Mufin Pay owns 100 percent of Gyftr, enabling deeper operational integration. A licensing agreement for LKP Finance's proposed name change to Gyftr is currently under process, aligning the company's identity with its payments and rewards platform strategy.

The investment also forms part of a broader strategic relationship in which LKP Finance holds a significant stake in Mufin Pay, providing financial and governance backing to the combined platform. Gyftr's digital gifting and rewards capabilities will be integrated with Mufin Pay's prepaid payment instrument (PPI) licence-based payments infrastructure. Following the investment, Mufin Pay and Vouchagram Private Limited will consolidate to form a unified payments and digital rewards platform.

Arvind Prabhakar, CEO of Gyftr, said, "This strategic investment by LKP Finance is a strong validation of Gyftr's long term vision of building category-defining digital rewards infrastructure. By combining regulated payments capacity with Gyftr's gifting and incentive scale, we can position rewards as an essential component of regular financial and business processes rather than just a promotional tool."

Kapil Garg, Promoter and Managing Director of LKP Finance, added, "Gyftr's integration with LKP Finance creates a powerful synergy promoting high-frequency digital reward use cases and regulated payment rails. We are well positioned to establish a scalable, compliant financial platform that benefits both businesses and consumers," he said.

The combined platform is expected to support new use cases across employee benefits, consumer loyalty programmes, enterprise incentives, and embedded banking services, strengthening its position in India's evolving payments and rewards landscape.

Gyftr is an online platform offering discounted digital gift vouchers for over 300 brands across categories, with instant delivery and bank-linked loyalty rewards.

LKP Finance, incorporated in 1984, is a listed NBFC that became part of the Mufin Group in 2025, combining capital strength with digital payments, lending, and green finance expertise.