Overview

Mobikwik is the largest Buy Now Pay Later (BNPL) fintech and one of the largest mobile wallets in India. Digitally paying users have been rapidly growing in India in the last decade, but the credit card penetration in the country is still only 3.5%. They are focused on addressing the unmet credit needs of the fast-growing digitally paying users by combining the convenience of everyday mobile payments with the benefits of BNPL. Founded in 2009 by Bipin Preet Singh and Upasana Taku, they commenced operations as a mobile wallet to make digital payments convenient for their users. Their use has since then expanded to include bill payments, e-commerce shopping, food delivery, payments at petrol pumps, large retail chains, pharmacies, Kirana stores, etc. Their platform also enables peer-to-peer payments via Unified Payments Interface (“UPI”), MobiKwik Wallet as well as MobiKwik Wallet to bank payments. Over the years they have amassed over 108 million Registered Users and more than 3.45 million e-commerce, physical retail, and biller partners. In order to further enhance their value proposition to their online merchants, they introduced their payment gateway subsidiary Zaakpay in 2012. Zaakpay enables online websites and mobile apps to collect payments from their users using multiple payment options, including debit cards, credit cards, mobile wallets, UPI, and net banking. In May 2019, they launched MobiKwik Zip, their flagship BNPL product, with a focus on the Indian middle-class population to enable them to make payments for daily life use cases. MobiKwik Zip is focused on providing the unserved Indian population with their first experience of credit. They are a technology-first company leveraging big data analytics and deep data science (including machine learning) to continuously delight users and merchants on its platform. Their mission is to build world-class payments and credit products for Bharat!

Mobikwik credit private limited's Unlisted Share Price