Eleven-year-old payments company MobiKwik has been vocal about wanting to get on the initial public offering (IPO) wagon for some time now. It even elevated its head of merchant payments, Chandan Joshi, to cofounder recently in an effort to kickstart kickstart MobiKwik Chandan is now the third Co-Founder of MobiKwik in addition to myself and Upasana. With this major appointment, we have effectively kick started our IPO 2022 campaign- MobiKwik Read more its 2022 IPO push.
The credit card up IPO-hungry MobiKwik’s sleeve
MobiKwik rode disruption after disruption in the fintech space and still managed to hang in there. To survive, it introduced financial services, dipped its toes into small-ticket lending. Now, at a valuation of $300 million, it wants to go public
MobiKwik was an early entrant to the e-wallet race, but it got pushed to the fringes after demonetisation and UPI
Without Paytm’s deep pockets and scale, it turned to financial services like enabling lending and selling mutual funds and insurance
MobiKwik’s IPO ambitions puts it in the company of unicorns and dominant players like Zomato, Paytm, PhonePe, and Ola
But to succeed, it needs a good pitch. A ‘digital credit card company’, one that marries credit with UPI, could be it