MobiKwik is a digital payment company that provides a mobile phone based payment system and digital wallet.
MobiKwik is one of the largest mobile wallets and one of the largest Buy Now Pay Later (BNPL) players in India.
MobiKwik was founded in 2009 by Bipin Preet Singh and Upasana Taku. The company is headquartered in Gurgaon, Haryana, India.
MobiKwik started as a mobile wallet, and since expanded to include bill payments, ecommerce shopping, food delivery, petrol pumps, large retail chains, pharmacies, kirana stores, etc.
MobiKwik's platform also enables peer-to-peer payments via unified payment interface (“UPI”), MobiKwik Wallet as well as MobiKwik Wallet to bank payments. They introduced a payment gateway subsidiary Zaakpay in 2012, which enables online websites and mobile apps to collect payments from their users.
MobiKwik also launched MobiKwik Zip, a flagship BNPL product, with a focus on the Indian middle-class population to enable them to make payments for daily life use cases. Mobikwik had over 101.37M registered users and more than 3.44M online, offline and biller merchant partners as of March 31, 2021.
MobiKwik is backed by Sequoia Capital, Tree Line Asia, Abu Dhabi Investment Authority, Cisco Systems, American Express, GMO Internet, MediaTek, Bennett Coleman and Company, and others. The company raised around INR 100 Cr in a pre-IPO financing on Dec 30, 2021. This brings MobiKwik's total funding to $178.5M to date. MobiKwik was valued at $1B from a secondary ESOP round raised in Oct 2021.