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MobiKwik bolsters its top management, to focus on lending and insurance

Payments company MobiKwik is on a hiring spree as it is strengthening its senior management team to bolster its offerings. Announcing its three senior-level appointments, MobiKwik said in a statement that it will hire a total of seven more senior level positions such as CFO, Business Head – Lending, etc, which will be filled up soon. Following are the latest hirings:

Lokesh Rajpal: The payment company has roped in former Flipkart Deputy General Counsel Lokesh Rajpal as MobiKwik’s Chief General Counsel. Rajpal comes with a background in litigation, commercial contracts, regulatory compliance, secretarial and corporate law and worked with companies like Flipkart, Honeywell, eBay, Noon.com and Metro.

Rahul Lodha: MobiKwik has appointed Rahul Lodha as its new Vice President Technology. Lodha is also co-founder of home design & building platform Renomania, and served as CTO at the company. Lodha has also worked with Info Edge as Vice President- Engineering. He hold a degree of B Tech from IIT- Kharagpur.

 

Apurva Anand: Anand has been appointed as Mobikwik’s National Sales Head for Offline Retail. He was previously working with Paper Boat parent company, Hector Beverages as National Sales Manager. According to his LinkedIn profile, he also founded a health drink company called Sehat Express. He hold a degree of MBA from Asian Institute of Management.

The company said in a statement that with these appointments, MobiKwik plans to venture into newer domains of personal and consumer finance with a focus on lending and insurance.

Last month, MobiKwik appointed Rukaiya Rangwala as a new Business Head for its payment gateway business (Zaakpay). Note that in August, Mobikwik sold 10.83% stake for Rs 225 crores (approximately $35.34 million at current rates) to Bajaj Finance, as a part of a strategic deal between the companies, that allows Mobikwik to bring in credit facilities to a wallet business.

MobiKwik other Highlights

Note that in June, MobiKwik confirmed to MediaNama that is raising $150 million at a valuation of $1 billion. However, a spokesperson declined to give information about the investors in the company.  The publication added that the company plans to invest around $45 million the capital on growing user and merchant bases and expand its office base to 20 from the current six.

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As of March 2017 (data from MediaNama’s Digital Payments in India report), Mobikwik had 55 million wallet users and was processing around 3 million daily transactions. The average ticket size of transactions was Rs 500, and a MobiKwik user transacted via the wallet 7-10 times every month.

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Writes about e-commerce, social media, tech and Internet ecosystem.

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

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