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  • Payment
  • India

REX: MobiKwik Hits Success


  • The Indian m-payment service provider MobiKwik just reached profit: a milestone in their development.
  • Ambition: achieve 500 million rupees revenue in fiscal year 2020.
  • After 10 years, they report their first operating profit excluding interest, taxes, depreciation and amortisation.
  • As they aim at achieving profit, MobiKwik relied on a number of growth relays:
    • Credit applications: in-app instant loans (up to 5,000 rupees) were added a year ago in partnership with the financial company Bajaj.
    • Insurtance offers: a few months ago, they entered the markets for insurance and wealth management.
  • MobiKwik relies on 400 employees and claims 110 million users. They expect to turn fully profitable by fiscal year 2021, and they may plan to go public within 4 or 5 years.


  • An underserved market. As the second-largest e-payment group in India, they say they may address the issue of customers’ poor access to credit offers on their market. According to a study by the Digital Lenders Association of India, overall retail credit demand is expected to grow 60% over the next four years. MobiKwik wants to make the most of this opportunity to generate additional revenue. 
  • Tough competition. Demand is strong, and competition is fierce... Just like MobiKwik, other large-scale digital payment platforms in India, such as Paytm, are featuring similar services. And this market is also attracting foreign start-ups, e.g.: the Kenyan FinTech Tala.
  • Geographical expansion. MobiKwik also stressed higher expansion ambitions and set eyes on more countries in South Asia.


  • MobiKwik Their credit and insurance products are now generating 25% of their revenue. Without making drastic changes to their business model, they are adding more services for their customers.
  • Just a month ago, MobiKwik started supporting cross-border mobile and wallet top-ups.
  • To this day, they raised $118 million, far behind their direct rival Paytm, which raised over $2 billion to date. Even so, this local digital payment leader remains unprofitable…