Total amount raised
$183.4 Millions
Latest funding date
3/1/2024
Location
MobiKwik has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform offers a range of financial products, including digital wallets, UPI payments, and credit services.
Keep reading to explore the intricacies of MobiKwik's fundraising journey and the investors backing this innovative platform.
What Is MobiKwik?
MobiKwik, founded on August 15, 2009, in Gurgaon, Haryana, India, is a leading provider of financial products, including payments and digital credit services. The company was established by Bipin Singh, Chandan Joshi, and Upasana Taku.
With a workforce of 501-1000 employees, MobiKwik leverages big data analytics and machine learning to enhance user experiences. The platform facilitates transactions for everyday needs across millions of merchants, aiming to create accessible payment and credit solutions for users in India.
From MobiKwik Wallet to ZIP Pay Later, the company offers a comprehensive range of financial products tailored for both consumers and merchants. Their services include UPI Payments, ZIP EMI, and Xtra, making financial transactions seamless and efficient.
How Much Funding Has MobiKwik Raised?
- Debt Financing
- Amount Raised: ₹500M
- Date: March 2024
- Lead Investors: BlackSoil
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To bolster financial position ahead of planned IPO.
- Debt Financing
- Amount Raised: ₹55M
- Date: August 2022
- Lead Investors: BlackSoil, Karnation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing business operations and growth.
- Secondary Market
- Date: October 2021
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Series G
- Amount Raised: ₹1.5B
- Date: June 2021
- Lead Investors: Abu Dhabi Investment Authority
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand financial services and technology infrastructure.
- Series F
- Amount Raised: $5M
- Date: April 2021
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and market reach.
- Series F
- Amount Raised: ₹525M
- Date: March 2021
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and improve technology.
- Series E
- Amount Raised: ₹415M
- Date: November 2020
- Lead Investors: Hindustan Media Venture
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence and user base.
- Series E
- Amount Raised: $4.8M
- Date: March 2020
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support business continuity and growth.
- Debt Financing
- Amount Raised: $24.6M
- Date: March 2020
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen financial stability and operations.
- Series E
- Amount Raised: $1.5M
- Date: February 2020
- Lead Investors: Atma Securities
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance service offerings and market expansion.
Total Amount Raised: $2.1B
Current Valuation: Not publicly disclosed
Key Investors
- BlackSoil
- Details: BlackSoil is a financial services firm that specializes in providing debt financing to companies. They have been a consistent investor in MobiKwik, participating in multiple debt financing rounds.
- Investment Focus Areas: Fintech, healthcare, real estate.
- Notable Investments: MobiKwik, Lendingkart, BigHaat.
- Karnation
- Details: Karnation is an investment firm known for its strategic investments in emerging markets. They have shown interest in MobiKwik by participating in its debt financing rounds.
- Investment Focus Areas: Technology, consumer goods, financial services.
- Notable Investments: MobiKwik, UrbanClap, Lenskart.
- Abu Dhabi Investment Authority
- Details: The Abu Dhabi Investment Authority (ADIA) is a sovereign wealth fund owned by the Emirate of Abu Dhabi. It manages a diversified global investment portfolio.
- Investment Focus Areas: Infrastructure, real estate, private equity.
- Notable Investments: MobiKwik, Reliance Jio, Uber.
- Hindustan Media Venture
- Details: Hindustan Media Venture is a media and investment company that focuses on strategic investments in high-growth sectors. They have invested in MobiKwik to expand its market presence.
- Investment Focus Areas: Media, technology, financial services.
- Notable Investments: MobiKwik, Naukri.com, Shine.com.
- Atma Securities
- Details: Atma Securities is a financial services firm that provides investment and advisory services. They have been involved in MobiKwik's funding rounds to support its growth.
- Investment Focus Areas: Financial services, technology, healthcare.
- Notable Investments: MobiKwik, PolicyBazaar, Zomato.
What's Next for MobiKwik?
MobiKwik stands on the brink of significant growth opportunities, driven by its recent debt funding and upcoming IPO plans. The company aims to raise ₹700 crore through its IPO, with substantial allocations for expanding financial services, enhancing product and technology, and growing its payment services business. This strategic move positions MobiKwik to capitalize on the burgeoning fintech market in India.
Future fundraising efforts will likely focus on leveraging the IPO proceeds to solidify its market presence and explore additional debt or equity financing rounds. However, challenges such as market volatility and competitive pressures from other fintech giants like Paytm could impact its trajectory. Navigating these hurdles will be crucial for MobiKwik's sustained growth and profitability.
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