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One MobiKwik System Limited IPO | MobiKwik Wiki

One Mobikwik System Limited

Type-  Private.

Industry- FinTech

Category- Financial Service.

Founded- 2009

Headquarters- Gurgaon

Area served- India.

Key people- Bipin Preet Singh and Upasana Taku

Products- Mobile wallet, Zip pay UPI and net banking

Revenue-



Number of employees- 675 plus

Website- https://www.mobikwik.com/



MobiKwik is an Indian FinTech company that is one of the largest mobile wallets and leading Buy now, pay later (BNPL) players in India. The company was founded in 2009 by Bipin Preet Singh and Upasana Taku. Its headquarters is situated in Gurgaon, India.  MobiKwik offers services such as mobile and online payment, Recharge, Bill payments, Money Transfer, E Gifts Vouchers, etc. The company reported having a 101 million users base and 3 million merchant customers.

Table of Contents

  • History
  • Products and services
  • Funding Raised
  • Controversies
  • IPO Details

History

MobiKwik System Limited

MobiKwik was founded in 2009 by Bipin Preet Singh and Upasana Taku, it commenced operation as a mobile wallet to make digital payments. MobiKwik expanded its services including bill payments, e-commerce shopping, food delivery, petrol pump, large retail chain, pharmacies, Kirana stores, etc. 

In 2012, Mobikwik launched its subsidiary Zaakpay platform, Zaakpay enables online websites and mobile apps to collect payment from their users using multiple payment options, including debit card, credit card, mobile wallet, UPI, and net banking.

In September 2017, MobiKwik was patterned with GoDaddy and other international industries to help them use Indian payment regulations. MobiKwik and Paytm Owned the 80 percent mobile wallet transaction market in June 2017. 

The company has enabled peer-to-peer payment via Unified Payment Interface (UPI) and MobiKwik wallet as well as MobiKwik wallet to bank payments. 

In 2019, MobiKwik launched Zip pay, BNPL products with a focus on the Indian middle-class population to enable them to make payments for daily life use cases. Also, MobiKwik announced strategic partnerships with DT one to expand its services internationally.

Products and services

MobiKwik System Limited services

MobiKwik started digital wallets in 2012 that enable users to deposit money online to pay their bills and other feature. The MobiKwik apps provide financial services including loan accident insurance, life insurance, Money Transfer, Credit card bills, mutual funds, digital gold, Recharge, E Gifts Vouchers, etc

Wallet- MobiKwik wallet is a semi-closed wallet authorized by the Reserve Bank of India in 2013.

Zip pay- Mobikwik launched the microcredit platform zip pay for those who don’t have a good credit score. It provided a 5000 to 15000 credit limit with 15-day billing cycles.

Investment- it gives three investment options like mutual funds, digital gold, and insurance without any extra charges.

Loan- MobiKwik provided up to Rs 500000 loan with easy EMI for shipping, travel, electronic appliances, etc this money is instantly credited to MobiKwik wallet.

Funding Raised

2013- MobiKwik raised $ 5 million in series A funding from US-based VC firms.

2015- The company has raised an additional $ 31 million from US Technology company Cisco systems, American express.

2016- MobiKwik raised $ 80 million through a Series C round, led by GMO internet, MediaTek, Sequoia capital, and Treekling Asia.

2017- In June 2017, a Medianama report published that MobiKwik had raised $ 150 million at a valuation of $ 1 billion from undisclosed investors.

In August 2017, Bajaj Finance acquired a 10.83% stake in MobiKwik for Rs 225 Crore.

2018- MobiKwik raised Rs 240 million through series E round, led by sequoia capital India.

2019- the company has raised Rs 87.4 million through a venture Round from its Investors NDTV limited, Trifecta capital advisors.

2021- MobiKwik raised Rs 1.5 billion funds through a series G-round, led by the Abu Dhabi Investment Authority.

Controversies

On 25 Feb 2021, the Indian security researcher Rajshekhar Rayaharia claimed that a hacker group called Jordan Raven stole the 100 million user KYC details from the MobiKwik server. It was put up for sale on the dark web platform, But after that on 4 March 2021, the company denied this claim and took legal action against the researcher.

The independent researcher and users confirmed that their KYC data was available online. On 30 March 2021, the American newspaper TechCrunch reported that MobiKwik hired a third party to conduct a security audit.

IPO Details

MobiKwik System Limited IPO

MobiKwik gets SEBI ( Security Exchange Board of India) approval for Rs 1900 Cr IPO. The initial public offering draft paper comprises raising Rs 1500 Cr by issuing fresh stocks and the remaining 400 Cr through an offer for sale by investors and founders Upasana Taku and Bipin Preet Singh. The IPO will be open at end of the 1st quarter of 2022.

Register Office
 

Address- Unit 102, Block B, Pegasus One,

Golf Course Road, DLF Phase 5, Sector 53


City- Gurgaon

  

State- Haryana

 

Pin Code-122003

 
Email- partners@mobikwik.com

 
Tel.No- 011-61266390

Web Site- https://www.mobikwik.com/

Management 
 

Bipin Preet Singh

Co-Founder, MD & CEO
  

Upasana Taku

Co-Founder & COO 
 

Chandan Joshi

Co-Founder & CEO, Consumer Payments

Dilip Bidani

CFO
  

Chirag Jain

VP, Technology 

Industry Info
 
 

Type- Private

 

Founded- 2003
 
 

Area Served- India
 


Parent- NA
 
 
 

Details
 
 

BSE: NA

 
  

NSE: NA
 
 

Series- NA
 
 

ISIN: NA
 
 
 

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  • Home
  • About
  • Categories
    • Aerospace Industries
      • Data Pattern India limited | Data Pattern IPO Review, GMP, Updates
      • Paras Defence and Space Technology | Paras Defence Wiki.
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      • India Pesticides Limited | IPL Wiki | IPO Review.
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      • CarTrade Tech Limited IPO | CarTrade Tech Wiki.
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      • Clean Science and Technology Limited | Clean Science Wiki.
      • Tatva Chintan Pharma Chem Limited | Tatva Chintan Pharma Wiki.
    • Fashion Industries
      • Aditya Birla Fashion Retail Limited | ABFRL Share| Wiki.
      • Bewakoof Success Story | Bewakoof.com Wiki.
      • Boat Lifestyle Brand | Boat Audio Wiki.
      • Campus Activewear Limited | IPO Detail Review.
      • FSN E-Commerce Ventures | Nykaa Wiki.
      • Go Fashion | Go Colors Wiki.
      • Metro Shoes | Metro Brands Share Update
      • Vedanta Fashion limited | Manyavar IPO Review
      • Wildcraft Private Limited | Wildcraft Wiki.
    • Financial or FinTech Industries
      • Aditya Birla Sun Life AMC Limited | Aditya Birla Sun Life Wiki.
      • ‘Bharat Pe’ Wiki | Payment App.
      • CRED FinTech Startup | CRED Startup Wiki.
      • Navi Technologies loans, Mutual Funds, Insurance Platform.
      • One MobiKwik System Limited IPO | MobiKwik Wiki
      • Policybazaar Wiki | PB Fintech limited
      • Star Health and Allied Insurance | Star Health Wiki
    • Food Industries
      • Adani Wilmar | Fortune Oil IPO Review
      • Amul ( Anand Milk Union Limited) | AMUL Wiki.
      • Britannia Industries Limited | FMCG, Wiki.
      • Balaji Wafers Private Limited | Balaji Wafers Wiki.
      • Devyani International Limited | Devyani International Wiki.
      • Dodla Dairy Limited | Dodla Dairy Wiki.
      • Gopal Namkeen Private Limited | Wiki | Success Story.
      • Haldiram’s Foods International Pvt. Ltd. | Haldiram’s Wiki.
      • Parle Products Pvt Ltd | Parle-G Wiki.
      • Ravalgaon Sugar Farm Limited | Ravalgaon Chocolate Wiki.
      • Swiggy Food Delivery Startup | Swiggy Wiki.
      • Zomato Food Delivery | Zomato Startup Wiki.
    • Internet & Data Industry
      • Latent View Analytics | LatentView Wiki.
      • MapMyIndia Limited | MapMyIndia IPO, Review, GMP Updates.
      • Oyo Rooms | Oyo Wiki.
    • Investment Industries
      • CoinDCX Crypto Exchange | Coindcx Wiki.
      • Upstox Discount Broker | Upstox Wiki.
      • WazirX Crypto Exchange | Wazirx Wiki.
    • Manufacturing Industries
      • Tega Industries Limited | Tega Industries Wiki.
    • Metal Industries
      • Shyam Metalics and Energy Limited | Shyam Metalics Wiki.
    • Pharmaceutical Industries
      • Bharat Biotech International Limited | Covaxin Vaccine | Wiki.
      • Glenmark Life Science | Glenmark Life Science Wiki.
      • Medplus Health Services | Medplus Company Details
      • Pharmeasy Startup | PharmaEasy Wiki.
      • Tarsons Product Limited | Tarsons Product Wiki.
      • Windlas Biotech Pharma Company | Windlas Biotech Wiki.
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