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Mobikwik bets its money on Buy Now Pay Later

By Arundhati Ramanathan in BFO #325, 13 Jul, 21

The latest to throw its hat in the IPO ring is payments company Mobikwik, which filed its IPO prospectus yesterday, ahead of its larger competitor Paytm*. It laid out its plans to raise Rs 1,900 crore (US$254 million) via its IPO, through both a fresh issue of shares and an offer for sale. 

The consumer payments company has positioned itself as one of the largest Buy Now Pay Later (BNPL) companies in India with its product MobikWik Zip.