MobiKwik Revenue and Competitors

MobiKwik is India's largest independent mobile payments network connecting 107 million users with more than 3 million direct merchants. It enables users to discover retailers (brick-and-mortar stores, e-com websites, m-com apps, billers, telcos) and then start paying them with 1-tap. MobiKwik is powering payments for IRCTC, Uber, Meru Cabs, Shuttl, Big Bazaar, OYO Rooms, Zomato, Barista, PVR, Archies, WHSmith India, BookMyShow, Grofers, Big Basket, Domino's, Pizza Hut, eBay, ShopClues, Myntra, Jabong, Pepperfry, GoDaddy, MakeMyTrip, Cleartrip, and Yatra. The company has raised close to $30 million in funding till now from Sequoia Capital, American Express, Tree Line Asia, and Cisco Investments. With MobiKwik, users load money into the wallet once using cash, loyalty points, debit card, credit card, and netbanking to make secure 1-tap payments for online or offline purchases. Most MobiKwik users make 10-12 purchases every month using their wallet balance across diverse use cases such as recharge, bills, food, grocery, travel & cabs, shopping, entertainment, etc. Users can also make bank to bank transfers via UPI to friends and family using MobiKwik. Users today enjoy MobiKwik wallet services on Android, Windows, and iOS mobile applications and on MobiKwik.com. MobiKwik aspires to be the largest source of digital transactions in India. 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 has also rolled out other financial services like insurance and digital gold while becoming the first company in the industry to give out instant loans on a mobile wallet.

keywords:Payments, Mobile Payments, Credit, Consumer Lending, Fin Tech