Mobikwik to raise private funding as stock market turns bearish

Fintech start-up turns profitable for the first time in December quarter on massive BNPL uptake

With the stock market turning choppy, fintech start-up Mobikwik, which had filed a DRHP raise around $250 million through an initial public offering, is now looking to raise money from the private market.

“We will raise private money but we are not in dire need. The business was profitable for the first time in the December quarter on a topline of around Rs 150 crore and that will be maintained in the March quarter also. We are generating cash,” said Upasana Taku, co-founder of Mobikwik.

The company said that its revenues grew 86 per cent Y-o-Y for the nine months ending December