MobiKwik to invest over 50 crore for business growth

One of the Indian mobile wallets major, MobiKwik has announced the company’s expansion strategy and plans for growing business to enable 150 million users in India in transacting with MobiKwik platform by early 2018.

The company has announced that it will set up offices in 13 cities by the end of Q1 2017 and hire over 1000 employees to drive business growth in these centers. The cities in which MobiKwik will be expanding its footprints are Mumbai, Pune, Bangalore, Kolkata, Hyderabad, Chennai, Ahmedabad, NOIDA, Lucknow, Vijayawada, Kochi, Jaipur and Chandigarh.

MobiKwik has been on a remarkable growth trajectory since November 2017. The company has added 9 lakh merchants and 1 crore users within the past 2 months. MobiKwik also received the license for Bharat Bill Payment System recently that enables the company to become a one stop for pan India utility and convenience bill payments, across sectors. MobiKwik has a network of over 10 lakh merchants and 45 million users.