Payment Firm Aims to Double Revenue by Tapping Underserved India
- MobiKwik sees breakeven profits this year, IPO in two years
- Product diversification also includes gold, mutual funds
Motorists refuel their vehicles as a sign for digital payment service MobiKwik, operated by One MobiKwik Systems Pvt., is displayed at a fuel station in Bengaluru.
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
Loans of as little as $30 and life insurance policies for as low as thirty cents a month: that’s what an Indian digital-payment company wagers will double its revenue and help it break even this year.
In its 10 years of existence, One MobiKwik System Pvt. has expanded from online payments into financial products including insurance, gold and mutual funds. The company, which plans an initial public offering in the next two years, sees its diverse offerings as key to growth in the still nascent industry.