Mobikwik Raises Close to $25mn In Series B From TreeLine Asia, Cisco, Amex And Sequoia

Mobikwik has raised close to $25 million in a Series B round led by Tree Line Asia. The other investors include Cisco Investments, American Express and the existing investor, Sequoia Capital. mobikwik
The funds will be used for investments in technology/data analytics, brand building and growing the network of users and merchants.
Mobikwik has over 15 million users and 25,000 merchants.
Retail Network
In 2015, MobiKwik has been focused on creating a pervasive brick-and-mortar retail network of more than 100,000 merchants across India. The brick and mortar retail stores will serve both as points for cash loading into the wallet and for wallet payments acceptance (for instance, partnership with CCD).
The company has also applied for a Payments Bank license in February 2015.

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