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MobiKwik raises $25 million from Tree Line Asia, Sequoia, Cisco Investments and AmEx

Mobile wallet and recharge platform MobiKwik has raised ~$25 million in Series B funding led by Tree Line Asia, existing investor Sequoia Capital along with Cisco Investments and American Express, reports ET. The funds will go towards investing in technology data analytics, brand building and growing its user and merchant base. MobiKwik will get access to Cisco’s networking technology as well as American Express’ payments processing expertise. The report added that Alok Bardiya, country director, Cisco Corporate Development, said Cisco’s investment in MobiKwik was a part of Cisco’s focus on connected mobility. He added that the investment also went on to show the India focus and its capacity for innovation. MobiKwik claims to have over 12 million users and 25,000 merchants. According to the company, as of March, 50% of MobiKwik’s overall revenues come from mobile recharge, 22.5% from online…

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I'm a MediaNama alumna from 2015-16 (remember TinyOwl?) now back to cover e-services like food and grocery delivery, app based transport and policies, platforms and media in India.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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