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Tuesday , 21 August 2018
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MobiKwik – Company Profile

MobiKwik is a leading digital wallet and mobile based online payment system. Using MobiKwik, customers can make various types of payments, transfer money and make purchases at several shops and outlets. MobiKwik is currently accepted at more than 2,50,000 online and offline avenues. Payments and transactions done on MobiKwik are highly secure, as one does not have to share payment details every time they visit a website.

Using the MobiKwik app, users can make any number of payments at the desired shop or online store. One of the great things about MobiKwik is that payments can be made with just a tap on the mobile phone. This has simplified the payment process for consumers. When customers pay using MobiKwik, they also benefit from exclusive discounts & cashbacks that are available at partner websites.

History:

The idea for MobiKwik came to founder Bipin Preet Singh, when he faced numerous problems while trying to recharge his mobile phone. Bipin was not happy with the existing system of making online payments. He started thinking and came up with the idea of launching a company that would make mobile payments a lot easier and faster for the average Indian user. It was around this time that Bipin met Upasana Taku. This was a fortuitous event, as both not only lunched MobiKwik, but also got married.

This is one of the rare stories, where the co-founders have teamed up at both professional and personal level. For many, it comes as a surprise that both the co-founders of MobiKwik are married to each other. Bipin and Upasana launched MobiKwik in 2009 and the company received the coveted PrePaid Payment Instrument license from the Reserve Bank of India on July 18, 2013.

Funding:

MobiKwik has received investments worth $162.2 million from seven rounds of funding. Top investors include Bajaj Auto Finance, Net1, GMO VenturePartners, Tree Line Asia, and Sequoia Capital.

Acquisitions:

MobiKwik has not made any acquisitions till date, but is open to any bankable opportunities that may emerge in the future.

Competition:

MobiKwik competes with other digital wallets and mobile payment platforms such as Paytm, Freecharge, Payumoney, Oxigen, Rechargeitnow, etc.

About the Founders:

MobiKwik was founded by Bipin Preet Singh and Upasana Taku in 2009. Bipin is an alumnus of IIT Delhi and prior to launching MobiKwik, he had worked at Intel, Nvidia and Freescale Semiconductors. He currently serves as the CEO & Director of MobiKwik. Upasana Taku holds a Bachelor’s in Engineering from NIT Jalandhar and a Masters in Management Science from Stanford University. Prior to launching MobiKwik, she had worked with PayPal and HSBC. She currently serves as the Director of MobiKwik.

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