Gurugram based Fintech platform MobiKwik has received INR 52 crore funding in a round led by Hindustan Media Ventures, the investment arm of HT Group, with participation from Infosys Co-founder Kris Gopalakrishnan’s family office Pratithi. The company has so far raised over $100 million in funding from marquee investors.

According to a company statement MobiKwik intends to leverage the fresh infusion of capital to fuel growth in all key business segments - digital credit & cards, consumer payments and payment gateway. The firm also informed that it is well on its way towards an IPO.

"The HT group and Kris coming on board is very exciting for us and is an endorsement in our business model of bringing digital credit to 100 million Indians. We are on the road to IPO and look forward to their guidance on building a long lasting sustainable company and creating impact via Financial Inclusion," said MobiKwik co-founder and CEO Bipin Preet Singh.


Founded in 2009 by Upasana Taku and Bipin Preet Singh, MobiKwik operates businesses in three major segments, consumer payments, payment gateway and financial services. The platform is used by over 120 million users, three million merchants and more than 300 billers.

Since 2018, MobiKwik has disbursed 19 lakh loans via its Digital Credit Line, which disburses money instantly to the user’s wallet. The company also ventured into the mutual fund space in 2018 with the acquisition of Mumbai-based Clearfunds.

"MobiKwik has carved out a unique spot for itself with its 'digital credit card model' within India's fintech ecosystem. The company has demonstrated good financial performance by scaling revenue while becoming breakeven profitable," said Piyush Gupta, Group CFO and CEO Strategic Investments of the HT group.