Bipin Preet Singh revealed that the rent for their first MobiKwik office in Dwarka was around Rs 12,000.
Bajaj Finance-backed MobiKwik will go public "when we feel we are going to have a successful IPO", founder and CEO Bipin Preet Singh told Reuters, adding his firm has a year from October, when it received regulatory approval, to launch an IPO.
Digital payments firm MobiKwik today said it is looking at raising fresh funding in three months as it revs up expansion to compete head-on with rivals like Paytm.
Mobikwik is firming up plans to transform into a full-fledged financial services platform to offer users interest on money parked in its mobile wallet through tie-ups with instruments such as mutual funds. It also plans to dole out loans to its customers through bank-to-bank collaborations.
Interestingly, many global investors such as American Express, Sequoia Capital, Cisco Investments and others hold stake in Mobikwik too.
The aim is to empower the rickshaw puller or vendor in a way to make accept and make payments that is safe and secure both for the customer and the recipient says Upasana Taku.
Users can download the app by simply giving a missed call to MobiKwik‘s call center from any android phone and sign up with their mobile number.
CNBC-TV18 spoke with Hari Menon, CEO of BigBasket, Bipin Preet Singh, Founder & CEO of MobiKwik and Amrish Rau, MD of Citrus Pay to find out how the demonetisation drive is impacting their business.
CNBC-TV18‘s Megha Vishwanath caught up with Bipin Preet Singh, Co-founder & CEO at MobiKwik to find out what it is like dealing with competition from Alibaba backed Paytm and continuously innovating on the product to stay ahead of the game.
MobiKwik has partnered merchants like Big Bazaar, WHSmith India, Cafe Coffee Day and Store King in the offline space.