Mo­biKwik Set to In­vest .₹ 300 cr on Loy­alty Ini­tia­tives

The Economic Times - - Companies: Pursuit Of Profit -

Dig­i­tal wal­let com­pany Mo­biKwik will pump in .₹ 300 crore this year to be used mainly on loy­alty ini­tia­tives and ex­pan­sion of user and mer­chant base. The com­pany, which com­petes with Alibaba-backed Paytm, ex­pects to grow its user base in In­dia from 55 mil­lion to 150 mil­lion and mer­chant base to 5 mil­lion from 1.4 mil­lion cur­rently. “A ma­jor­ity of the .₹ 300 crore in­vest­ment planned will go to­wards loy­alty ini­tia­tives,” Mo­biKwik vice pres­i­dent for Growth Da­man Soni told re­porters here.

NEW DELHI

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