30 December, 2015, Gurgaon: In its recent round of funding, Mobikwik managed to raise a mix of debt and equity funding from Sequoia Capital and Asia-focused hedge fund Tree Line Asia. This is the series B round of funding which the company had raised. Apart from Sequoia Capital and Tree Line Asia, Cisco Investments and American Express also participated in the series B round of funding.
As per the officials, the raised amount will be utilised in innovating the product, brand and marketing initiatives and strengthening the app with the facility of mobile payment in the offline space.
Mobikwik ventured into the online business in year 2009. Founded by Bipin and Upasana Taku, it is a mobile wallet which allows the users to make online payment for their daily expanses such as mobile recharge, bill payments etc. The company has succeeded in gaining the trust and has partnered with more than 50, 000businesses such as Café Coffee Day, PVR, Domino’s Pizza, Pizza Hut, Tasty Khana, Just Eat, eBay, Jabong, Snapdeal, Shop Clues, Home Shop18 and others.
User can also use the extra in-app security settings available on all mobile platforms MobiKwik is operational on. These are Android, Windows and iOS. All services of MobiKwik are also available via a desktop site and a mobile site.