What is MobiKwik?
MobiKwik provides a comprehensive mobile-based payment system and digital wallet, catering to a wide array of online transactions. The company also offers MobiKwik Lite, a specialized mobile application designed for users with limited internet connectivity, demonstrating a commitment to inclusivity. Headquartered in Haryana, India, MobiKwik has established itself as a key player in the fintech sector, facilitating seamless digital transactions for millions of users across the country. Its services extend beyond simple payments to encompass a broader digital financial ecosystem.
How much funding has MobiKwik raised?
MobiKwik has raised a total of $271M across 16 funding rounds:
Series B
$25M
Series C
$50M
Private Equity
$40M
Series D
$35.2M
Unspecified
$3.4M
Multiple Rounds
$72.1M
Series G
$20M
Unspecified
$13.3M
Debt
$6.7M
Series B (2015): $25M supported by Steamboat Ventures, American Express, and Cisco Investments
Series C (2016): $50M featuring MediaTek, GMO Payment Gateway, Tree Line Investment Management, and Steamboat Ventures
Private Equity (2016): $40M backed by Net 1 UEPS Technologies, Inc
Series D (2017): $35.2M with participation from Bajaj Finserv
Unspecified (2018): $3.4M led by Net 1 UEPS Technologies, Sequoia India, and GMO Payment Gateway, Inc.
Stock Issuance/Offering (2020): $10M supported by MK SPV IX LP
Other Financing Round (2020): $4.8M, investors not publicly disclosed
Series F (2020): $30M backed by Paper.vc
Debt (2020): $14.6M with participation from MK SPV IX LP
Series E (2020): $5.6M led by Hindustan Media Venture
Unspecified (2020): $7.1M supported by Kris Gopalakrishnan and Hindustan Media Ventures Limited
Series G (2021): $20M featuring ADIA
Unspecified (2022): $13.3M backed by Bennett , Coleman
Debt (2022): $6.7M with participation from Karnation and BlackSoil Capital Pvt
Key Investors in MobiKwik
Steamboat Ventures
Steamboat Ventures is a venture capital firm focused on early to growth-stage technology, media, and consumer companies, dedicated to fostering market leaders and creating lasting value through strategic support and nurturing.
American Express
American Express is a global financial services corporation offering payment solutions, travel services, and a comprehensive ecosystem of charge and credit card products for consumers and businesses worldwide.
Cisco Investments
Cisco Investments provides strategic funding and portfolio development to innovative technology companies, specializing in cybersecurity, cloud, and networking, leveraging Cisco's global network and expertise.
What's next for MobiKwik?
The recent major strategic investment signals MobiKwik's readiness for its next phase of growth, likely focusing on expanding its service offerings and deepening its market penetration. With a substantial funding history, the company is well-positioned to enhance its existing digital wallet and payment gateway services, potentially exploring new avenues such as credit services, insurance, or further integration of its Lite version for broader accessibility. The strategic nature of the recent capital infusion suggests a focus on synergistic partnerships and technological advancements to solidify its competitive edge in the dynamic Indian fintech landscape.
See full MobiKwik company page
