Indian payment-tech MobiKwik enters the Indian unicorn club ahead of its $253 million IPO. MobiKwik employees exercised their ESOPs in a recently opened window by selling shares in a secondary round led by Mathew Cyriac, erstwhile head of Blackstone India. The fintech has raised over $165 million till date, and was valued at ~$700 million in June this year in a $20 million Series G funding round led by Abu Dhabi Investment Authority. Sequoia Capital India, American Express Ventures, GMO Venture Partners and Tree Line Asia are also existing investors in MobiKwik.
Founded in 2009 by Bipin Singh, Chandan Joshi and Upasana Taku, Gurgaon based MobiKwik is India’s leading fintech platform, operating businesses in consumer payments, payment gateway, and financial services.
India has witnessed a record year for new unicorns this year including Digit Insurance, Innovaccer, Five Star Finance, Meesho, Infra.Market, CRED, Pharmeasy, Groww, Gupshup, Mohalla Tech, Chargebee, Urban Company, Moglix, Zeta, BrowserStack, BlackBuck, Droom, Ofbusiness, BharatPe, MindTickle, upGrad, CoinDCX, Eruditus, Zetwerk, Grofers, Mobile Premier League, Apna, Vedantu, Licious, CoinSwitch Kuber and Rebel Foods.