MobiKwik, one of the two major companies offering mobile wallet services in India, has picked up another investor. The company has raised close to $30 million in funding till now from Sequoia Capital, American Express, Tree Line Asia, and Cisco Investments.
GMO Internet Group company, GMO Payment Gateway made an undisclosed investment through GMO Global Payment Fund, in One MobiKwik Systems Private Limited. GMO Global Payment Fund is a fund specialized in payments for promising local payment related businesses. GMO-PG and MediaTek (Taiwan), the world’s biggest fabless semiconductor company, are jointly lead investors for MobiKwik.
MobiKwik is India’s largest independent mobile payments network connecting 28 million users with 50,000 retailers.
Most MobiKwik users make 10-12 purchases every month using their wallet balance across diverse use cases such as recharge, bills, food, grocery, travel & cabs, shopping, entertainment, etc. Users also transfer money to wallets and bank accounts of friends and family using MobiKwik.
Users today enjoy MobiKwik wallet services on Android, Windows, and iOS mobile applications and on MobiKwik.com.
MobiKwik is powering payments for IRCTC, Uber, Meru Cabs, Shuttl, Big Bazaar, OYO Rooms, Zomato, Barista, PVR, Archies, WHSmith India, BookMyShow, Grofers, Big Basket, Domino’s, Pizza Hut, eBay, ShopClues, Myntra, Jabong, Pepperfry, Star Sports, GoDaddy, MakeMyTrip, Cleartrip, and Yatra.
GMO Payment Gateway offers online payment processing services for credit cards and other payment methods to 65,652 merchants.
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