What is MobiKwik?
Headquartered in Haryana, India, MobiKwik operates a sophisticated mobile-based payment system and digital wallet that facilitates seamless transactions across a vast network of online and offline merchants. Beyond its core payment processing capabilities, the company has demonstrated a commitment to financial inclusion through its MobiKwik Lite application, specifically engineered to provide reliable service for users operating in regions with limited internet connectivity. This dual-pronged approach—targeting both high-bandwidth urban users and those in underserved areas—positions the company as a critical infrastructure provider in the broader fintech 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 Cisco Investments, Steamboat Ventures, and American Express
Series C (2016): $50M featuring Tree Line Investment Management, GMO Payment Gateway, MediaTek, 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.
Series F (2020): $30M supported by Paper.vc
Debt (2020): $14.6M featuring MK SPV IX LP
Other Financing Round (2020): $4.8M, investors not publicly disclosed
Stock Issuance/Offering (2020): $10M with participation from MK SPV IX LP
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
ADIA
Established in 1976, ADIA manages a global investment portfolio that is diversified across several asset classes and sub-categories. The company is headquartered in Abu Dhabi, United Arab Emirates.
Sequoia India
Sequoia Capital in India manages funds focused on venture, growth, and late-stage opportunities, acting as an active, value-added partner to entrepreneurs and management teams.
GMO Payment Gateway, Inc.
GMO-PG provides comprehensive payment-related and financial services, acting as a leading infrastructure provider for merchants adopting cashless payment and digital transformation.
What's next for MobiKwik?
With the recent influx of $6.7M, MobiKwik is well-positioned to accelerate its strategic initiatives, focusing on deepening its penetration into the digital lending and wealth management sectors. The company is expected to prioritize the enhancement of its payment infrastructure to support higher transaction volumes while simultaneously exploring new avenues for cross-selling financial products to its existing user base. As the firm matures, the focus will likely shift toward achieving sustainable profitability and further integrating its services into the daily financial lives of its millions of users, thereby reinforcing its competitive moat against both traditional banking institutions and emerging digital competitors.
See full MobiKwik company page
