India's digital payments space continues to witness more churn; MobiKwik will get financial muscle to take on Paytm; Bajaj Finance moves swiftly towards digital payments solutions for its customers
The Delhi-based company’s founders have not revealed its current value. However, the unicorn target suggests One MobiKwik Systems will be raising more money soon.
In a rapidly challenging space, MobiKwik remains the only credible, independent mobile wallet company with a degree of financial backing to take on Alibaba Group-backed One97 Communications, whose mobile wallet Paytm is widely seen as the biggest in India. Thus far, Mobikwik’s cautious, and frugal approach has helped founders Taku and Bipin Preet Singh, who is CEO, to remain in control of their own company.