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Mobikwik Seeks to Raise $100 Million After Deferring Planned IPO

  • Indian fintech startup turned profitable in December quarter
  • The fund raise will finance the firm’s expansion plans: Taku

One Mobikwik Systems Ltd. is in talks with investors to raise as much as $100 million in equity to finance business expansion after it deferred an initial public offering, a founder of the company said.

The Gurugram-based fintech firm, which turned profitable for the first time in the quarter ending Dec. 31, will use the funds for marketing, to hire people and make acquisitions, co-founder Upasana Taku said in an interview in Mumbai. The company is still planning to go ahead with the IPO at an opportune time, she said.