Millennium Post

MobiKwik raises $25 mn to fund expansion plans

Digital wallet services firm MobiKwik on Wednesday said it has raised $25 million (about Rs 155 crore) from a clutch of investors, including Tree Line Asia, Cisco Investments, American Express and Sequoia Capital.

The start-up, which claims to have over 15 million users and 25,000 merchants (retailers), will utilise the funds to expand its offline presence by increasing physical point of sale (PoS) locations across the country.

The company expects to raise an additional $100 million (about Rs 620 crore) by the end of this year.
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