MobiKwik eyes raising $100 mn in funding this year
6 Aug 2017 5:56 PM GMT
New Delhi: Mobile wallet company MobiKwik is looking at raising over $100 million from investors this year to fuel its expansion.
MobiKwik recently inked an agreement with Bajaj Finance under which the latter invested Rs 225 crore (about $35 million) in the digital payments company for a 10.83 per cent stake.
"We had said that we plan to raise about $150 million and this investment (from Bajaj Finance) is the first tranche.
We are in talks with private equity and venture capitalists to raise over $100 million," MobiKwik Co-Founder Upasana Taku said. She added that more funding is expected to come in during the latter half of the year. The deal with Bajaj Finance values the company at over $300 million.
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