MobiKwik Gets About $25 Mn From Tree Line Asia & Others In Series B; Plans To Raise Another $100 Mn

Gurgaon-based mobile wallet company MobiKwik, has crossed 10 mn Android app downloads. Currently, the company has over 17+ Mn wallet users.Few Facts:

• Fastest growing Tier 1 cities include Delhi, Mumbai, Kolkata
• Whereas fastest growing Tier 2 cities include Jaipur, Lucknow, Chandigarh
• The company has grown from 1 Mn app users in November 2013 to 5 Mn in 2014.

MobiKwik was started in 2009 by Bipin Singh and Upasana Taku, its wallet enables users to pay in a flash for their mobile recharge and bill payments. It has partnered with over 50,000+ businesses like Café Coffee Day, PVR, Domino’s Pizza, Pizza Hut, TastyKhana, JustEat, eBay, Jabong, Snapdeal, ShopClues, HomeShop18 among others.

On the occasion of reaching more than 17 Mn customers, the company has also launched a new TV campaign:

In this mobile wallet service space, MobiKwik competes with Paytm, Oxigen and Citrus.

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