Net1 to invest up to $40m in MobiKwik over two years

Payment services provider Net1 UEPS Technologies Inc will invest up to $40 million (almost ₹270 crore) in Indian mobile wallet services provider MobiKwik over the next 24 months, the companies said in a joint statement on Friday. MobiKwik had previously raised three rounds of funding from investors including Sequoia Capital, American Express, MediaTeK and Cisco.