MobiKwik is India's largest issuer-independent digital financial services platform, leveraging a sophisticated product and merchant acquisition capabilities. It is the undisputed No.2 player in the mobile wallet space in India and amongst the top 3 players in the payment gateway industry in the country. It has a network of over 3 million direct merchants, 140+ billers and 107 million-plus users. It records over 1 million transactions/ day.
Founded in 2009 by Bipin Preet Singh & Upasana Taku, MobiKwik is backed by marquee investors including Sequoia Capital, American Express, Tree Line Asia, MediaTek, GMO Payment Gateway, Cisco Investments, Net1, and Bajaj Finance.
MobiKwik has grown by leaps and bounds over the past few years. The company has clocked a 4x growth in transactions on YoY basis. The brand vision is to enable a billion Indians with one tap access to digital payments, loans, investments and insurance by the year 2022.
The MobiKwik wallet can be used across a host of payments services, including bill recharges, utility bill payments, cab bookings, ticket bookings, payments for groceries, as well as payments to online digital and offline retail stores. MobiKwik bridges the digital divide between consumers and companies via swift recharges and bill payments at no extra cost for its online transactions. Be it prepaid, postpaid, DTH, data card, electricity, life insurance, landlines, gas, water, broadband, cable, municipality or Metro payments and traffic challans, MobiKwik is best for one and all. The app also offers instant money transfer to family and friends with ease.
MobiKwik is well known for its product innovation and cutting-edge technology. Earlier this year, it rolled out the first-of-its-kind instant credit product called 'Boost' that ensures loan disbursal in a matter of 90 seconds. MobiKwik is the first in the industry to give loans in a mobile wallet. It will be adding new products in its lending portfolio in the near future. With an extensive range of offerings in lending, MobiKwik is on track to become one of India's largest lenders, in the times to come.
MobiKwik also announced its foray in wealth management with 100% acquisition of Clearfunds, one of India's leading new age wealth management platforms. It has also recently launched the digital gold category on its platform. The company will also be rolling out other financial services like insurance, as it targets to achieve a four-fold growth in FY 18-19.