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Funding · Financial Services

MobiKwik raises funds from existing investors

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MobiKwik logo
Date
Company
MobiKwik
What it does
Digital payments and financial services platform
Kind
Funding
Amount
Undisclosed
Sector
Financial Services

What they do

MobiKwik is a digital payments and financial services platform in India

What happened

It raised an undisclosed amount from existing investors in a new funding round

Why it matters

The company plans to use the funds to expand its lending and buy-now-pay-later business

The details

  • MobiKwik has raised an undisclosed amount from existing investors.
  • The funding round was led by existing investors who participated in the round.
  • The company will use the funds to expand its lending and buy-now-pay-later (BNPL) business.
  • MobiKwik also plans to strengthen its technology platform with the new capital.
  • The company aims to increase its user base and deepen financial inclusion.
  • This is a follow-on investment from existing backers who have supported MobiKwik previously.

About the business

  • MobiKwik operates a digital payments platform that allows users to make online and offline payments.
  • It offers mobile wallet services, UPI payments, and buy-now-pay-later (BNPL) options.
  • The company also provides lending products such as personal loans and credit lines.
  • MobiKwik earns revenue through transaction fees, interest on loans, and subscription services.
  • It serves over 120 million registered users and 3 million merchants across India.
  • The platform processes billions of transactions annually in value.

What happens next

  • MobiKwik will use the funds to expand its lending and BNPL business.
  • The company plans to strengthen its technology platform.
  • It aims to increase its user base and deepen financial inclusion.

The deal

Type
funding

Founders

  • Bipin Preet Singh, Founder

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