MobiKwik aims profit by 2018, increases offline play
Gurgaon-based mobile payments network MobiKwik aims to become profitable by April 2018, as it pivots its business strategy to increase presence in the offline space, a senior company official said.
“We expect to become profitable by 2018 and continue to expand financial offerings to help meet this goal,” MobiKwik co-founder Upasana Taku said.
“Currently, 25 per cent of our business comes from offline businesses, while 75 per cent is online. In the next few years, we aim to reverse this, with 75 per cent of our business coming from offline,” she added.
In this respect, the company has been diversifying into services like micro-lending, mobile payments in brick-and-mortar stores, and most recently, bus ticket booking.
It expects to capture the lead position in the bus tickets booking space by the year-end, Taku said. “MobiKwik is offering partial payment for ticket reservation and cash pick up for bus tickets booking. We are doing 4,000 bookings a day and target 25,000 daily bus bookings by December 2016,” she added.