Company Name : MobiKwik
Funding Amount : $50 Million
Investor(s) GMO, Mediatek
Funding Round : Series C
MobiKwik has secured $50 million funding in series C round led by GMO, Japan’s payment gateway and Mediatek, a Taiwanese semiconductor company.
The existing investors such as Sequoia Capital and Treeline Asia have also participated in the current round.
The company will use the proceeds for rapid product innovation, ramping up the team and user growth. MobiKwik’s GMV has grown by 250% year on year for the last 4 years, claims the company.
“We are very excited to live upto the investors’ expectations and raise the funding. MobiKwik is a dominating player in the Indian mobile payments space and continues its consistent growth trajectory while staying true to its DNA of rapid product innovation and capital efficiency. Our valuation too has significantly increased,” said Bipin Preet Singh, Founder & CEO, MobiKwik.