MobiKwik
MobiKwik is an Indian financial technology company headquartered in Gurugram, Haryana. Founded in 2009, it provides a mobile-based payment system and digital wallet, enabling users to make payments for utilities, e-commerce, and retail transactions. The company operates in consumer payments, fintech, and payment gateway segments, serving over 176 million users and 4.6 million merchants as of 2025. MobiKwik has diversified into digital credit, mutual funds, and insurance, aiming to be a full-stack fintech platform. It became a unicorn in 2021 with a valuation exceeding $1 billion and went public in 2024. The company focuses on underserved Indian markets, leveraging data analytics and machine learning to enhance user experience.[1][2]
 | |
| Company type | Public |
|---|---|
| BSE: MOBIKWIK | |
| Industry | FinTech |
| Founded | April 2009 |
| Founder | Bipin Preet Singh, Upasana Taku, Sunali Aggarwal, Chandan Joshi |
| Headquarters | Gurugram, Haryana, India |
Key people | Bipin Preet Singh (CEO), Upasana Taku (CFO) |
| Products | Mobile wallet, UPI payments, bill payments, digital credit, mutual funds, digital gold |
| Revenue | ₹ 1192.5 crore (FY25) |
 ₹ -122.6 crore (FY25) | |
Number of employees | 735 (2024) |
| Website | www |
Founders & Leadership
- Bipin Preet Singh (CEO): A 2002 graduate of IIT Delhi, Singh founded MobiKwik with an initial investment of ₹ 8 lakh. He previously worked as a system architect at Freescale Semiconductor. Singh developed the initial website and payment options, focusing on simplifying digital transactions. He also founded Mpay and ZaakPay.[3][1]
- Upasana Taku (CFO): Co-founder and Singh’s spouse, Taku holds a degree from Punjab Engineering College and worked at PayPal and HSBC. She joined MobiKwik in 2012, focusing on operations and investor relations. Taku has been instrumental in navigating regulatory challenges and scaling the company.[2]
- Sunali Aggarwal: A co-founder, Aggarwal has founded other ventures like BYBO, AsYouAre, and Trabug. Her role focused on early product development.[1]
- Chandan Joshi: Joined as VP and later became a co-founder, contributing to product strategy and partnerships.[4]
Timeline
| Year | Milestone |
|---|---|
| 2009 | MobiKwik founded by Bipin Preet Singh, Upasana Taku, Sunali Aggarwal, and Chandan Joshi in Gurugram.[1] |
| 2013 | Received Reserve Bank of India (RBI) approval for Prepaid Payment Instrument.[5] |
| 2015 | Raised $25 million in Series B funding; partnered with Uber India for card payments.[6] |
| 2016 | Launched MobiKwik Lite app; started small loans via CashCare partnership.[7] |
| 2018 | Acquired Clearfunds, a mutual fund robo-advisor.[7] |
| 2021 | Achieved unicorn status with $1 billion valuation; filed DRHP for ₹ 1900 crore IPO, later deferred.[8] |
| 2024 | Refiled DRHP for ₹ 700 crore IPO; received SEBI approval.[9] |
| 2025 | Reported 203% YoY growth in payments GMV to ₹ 1159 billion.[10] |
Funding
| Date | Round | Amount | Investors |
|---|---|---|---|
| 2015 | Series B | $25M | Tree Line Asia, Sequoia Capital, Cisco Systems, American Express[6] |
| 2016 | Series C | $50M | GMO Internet, MediaTek, Sequoia Capital, Tree Line Asia[7] |
| 2017 | Strategic | ₹ 225 crore | Bajaj Finance[6] |
| 2021 | Secondary ESOP | Undisclosed | Mathew Cyriac (Blackstone India)[8] |
| 2024 | Debt | ₹ 50 crore | BlackSoil[11] |
| 2024 | Debt | ₹ 10 crore | CredAble[11] |
Business Model
MobiKwik operates a platform-based business model in the B2C and B2B fintech space, generating revenue through transaction commissions, partnerships, and fee-based services. It earns a commission on transactions processed via its mobile wallet, UPI, and payment gateway (ZaakPay). Additional revenue comes from cross-selling mutual funds, insurance, and digital gold, as well as advertisements and partnerships with brands like PVR and Café Coffee Day. The company targets digitally-savvy consumers and small-to-medium merchants, focusing on underserved markets with low credit card penetration. Its lending segment, including buy now, pay later (BNPL) and small loans, contributes significantly to revenue.[1][4]
Products / Services
- Mobile Wallet: Enables users to store money digitally for payments at online and offline merchants.[5]
- Pocket UPI: Facilitates UPI payments without linking a bank account, launched in 2025.[10]
- ZaakPay: A payment gateway for businesses, supporting cards, UPI, and EMIs.[12]
- Digital Credit: Includes BNPL (Zip) and small loans (₹ 500–2500) via partnerships with Lendbox and Cashfree.[7]
- Mutual Funds and Insurance: Offers investment and insurance products through acquisitions like Clearfunds.[7]
- Digital Gold: Allows users to buy and sell gold starting at ₹ 1.[7]
Growth & Metrics
As of FY25, MobiKwik reported a payments gross merchandise value (GMV) of ₹ 1159 billion, a 203% year-on-year increase. Total income reached ₹ 1192.5 crore, up 34%, driven by a 142% growth in payments revenue. The company serves 176.4 million registered users and 4.6 million merchants, with a 23% market share in PPI wallet transactions as of November 2024. MobiKwik employs 735 people as of December 2024, a 10% increase from the previous year. Despite revenue growth, it reported a ₹ 122.6 crore loss in FY25.[10][1][13]
Legal Entity Information
- Legal Name: One MobiKwik Systems Limited
- Foundation Date: April 2009
- Registrar of Companies (ROC): ROC Delhi
- Corporate Identification Number (CIN): U72900HR2008PLC038206
- Registered Address: 5th Floor, HUDA City Centre Metro Station, Sector 29, Gurugram, Haryana, India
- Company Status: Active[1]
Media & Public Recognition
MobiKwik has been featured in publications like The Economic Times, Inc42, and YourStory for its growth and IPO plans. It was recognized as a unicorn in 2021. The company’s founders, Bipin Preet Singh and Upasana Taku, have been noted for fostering a startup culture that inspired former employees to launch ventures in healthcare, meat delivery, and PR.[14] MobiKwik’s Pocket UPI campaign, featuring actor Jaideep Ahlawat, gained attention in 2025.[10]
FAQs
- What is MobiKwik?
- MobiKwik is an Indian fintech company offering digital payment solutions, including mobile wallets, UPI, and payment gateways, founded in 2009.[1]
- Who are the founders of MobiKwik?
- The company was founded by Bipin Preet Singh, Upasana Taku, Sunali Aggarwal, and Chandan Joshi.[1]
- What is MobiKwik’s valuation?
- MobiKwik achieved a $1 billion valuation in 2021, earning unicorn status.[8]
- What services does MobiKwik offer?
- It provides mobile wallet, UPI payments, bill payments, digital credit, mutual funds, insurance, and digital gold.[7]
- Is MobiKwik a public company?
- Yes, MobiKwik went public in 2024, listed as One MobiKwik Systems Limited on the BSE.[9]
External Links
Related Startups
References
- ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 "MobiKwik - 2025 Company Profile". Tracxn. Retrieved 20 May 2025.
- ↑ 2.0 2.1 Alawadhi, Neha. "MobiKwik: What makes the firebrand co-founders defensive". Business Standard. Retrieved 20 May 2025.
- ↑ "Meet man, used Rs 8 lakh savings". India.com. Retrieved 20 May 2025.
- ↑ 4.0 4.1 "MobiKwik Success Story". The Digital Yug. Retrieved 20 May 2025.
- ↑ 5.0 5.1 "MobiKwik Success Story". Business Outreach. Retrieved 20 May 2025.
- ↑ 6.0 6.1 6.2 "Why MobiKwik wants to IPO in 2022". YourStory. Retrieved 20 May 2025.
- ↑ 7.0 7.1 7.2 7.3 7.4 7.5 7.6 "MobiKwik Founder and CEO Bipin Preet Singh". Inc42. Retrieved 20 May 2025.
- ↑ 8.0 8.1 8.2 "MobiKwik Success Story". StartupTalky. Retrieved 20 May 2025.
- ↑ 9.0 9.1 "A Tale Of Two DRHPs". Inc42. Retrieved 20 May 2025.
- ↑ 10.0 10.1 10.2 10.3 "MobiKwik's FY25 Growth". X. Retrieved 20 May 2025.
- ↑ 11.0 11.1 "MobiKwik Raises INR 50 Cr Debt Funding". Inc42. Retrieved 20 May 2025.
- ↑ "One MobiKwik shares". The Economic Times. Retrieved 20 May 2025.
- ↑ "MobiKwik reports Rs 122.6-crore loss". Moneycontrol. Retrieved 20 May 2025.
- ↑ "How MobiKwik inspired a new set of Indian entrepreneurs". Quartz. Retrieved 20 May 2025.