Mobile wallet company MobiKwik is looking at raising over $100 million from investors this year to fuel its expansion.
MobiKwik recently inked an agreement with Bajaj Finance under which the latter invested ₹225 crore (about $35 million) in the digital payments company for a 10.83% stake.
“We had said that we plan to raise about $150 million and this investment [from Bajaj Finance] is the first tranche. We are in talks with private equity and venture capitalists to raise over $100 million,” MobiKwik Co-Founder Upasana Taku told PTI. She added that more funding is expected to come in during the latter half of the year.
The deal with Bajaj Finance values the company at over $300 million. MobiKwik has so far raised over $85 million from investors.