What is MobiKwik?
MobiKwik operates a comprehensive mobile-first payment system and digital wallet, catering to a wide array of online transactions. The company also provides MobiKwik Lite, a specialized mobile application designed for users with limited internet connectivity, ensuring accessibility across diverse user segments. Headquartered in Haryana, India, MobiKwik has established itself as a key player in the digital payments sector, offering a robust platform that supports online stores and a broad range of financial services. Its strategic focus on user accessibility and technological advancement positions it favorably within the competitive Indian fintech market.
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 American Express, Steamboat Ventures, and Cisco Investments
Series C (2016): $50M featuring MediaTek, GMO Payment Gateway, Steamboat Ventures, and Tree Line Investment Management
Private Equity (2016): $40M backed by Net 1 UEPS Technologies, Inc
Series D (2017): $35.2M with participation from Bajaj Finance Ltd
Unspecified (2018): $3.4M led by Net 1 UEPS Technologies, Sequoia India, and GMO Payment Gateway, Inc.
Debt (2020): $14.6M supported by MK SPV IX LP
Series F (2020): $30M featuring Paper.vc
Stock Issuance/Offering (2020): $10M backed by MK SPV IX LP
Other Financing Round (2020): $4.8M, investors not publicly disclosed
Series E (2020): $5.6M led by Hindustan Media Venture
Unspecified (2020): $7.1M supported by Hindustan Media Ventures Limited and Kris Gopalakrishnan
Series G (2021): $20M featuring ADIA
Unspecified (2022): $13.3M backed by Bennett , Coleman
Debt (2022): $6.7M with participation from BlackSoil Capital Pvt and Karnation
Key Investors in MobiKwik
Net 1 UEPS Technologies
Net 1 UEPS Technologies is a global provider of payment solutions and financial technology, with a focus on transaction processing services across various industries and emerging economies. Their investment in MobiKwik highlights a strategic interest in expanding their reach within the Indian digital payments market.
Sequoia India
Sequoia Capital India is a prominent venture capital firm that invests across venture, growth, and late-stage opportunities in India. Known for its long-term investment approach and active partnership with entrepreneurs, their backing of MobiKwik signifies confidence in the company's scaling potential.
GMO Payment Gateway, Inc.
GMO Payment Gateway is a leading provider of payment processing services and financial technology solutions in Japan, supporting a vast number of merchants. Their investment suggests a strategic alignment with MobiKwik's mission to build robust payment infrastructure and expand digital payment adoption.
What's next for MobiKwik?
With substantial backing and a recent strategic investment, MobiKwik is poised for accelerated growth. The company is likely to leverage this capital to enhance its product suite, expand its user base, and potentially explore new market opportunities. Further development of its digital wallet capabilities, integration with more merchants, and advancements in its Lite version for broader accessibility are anticipated. The ongoing investment signals strong confidence in MobiKwik's business model and its capacity to innovate within the dynamic Indian financial technology ecosystem, potentially leading to new service rollouts and strategic partnerships.
See full MobiKwik company page
