After Bajaj Fin buys 11% stake for $33 mn, MobiKwik aims to raise $120 mn

The mobile payments wallet company wants to go deep into the financial services sector

After raising over $33 million from Bajaj Finance Limited, mobile wallet firm MobiKwik is planning to bring in $120 million more, co-founder Upasana Taku said. 

On Wednesday, MobiKwik entered into a tie-up with Bajaj Finance, after the latter gave $33 million for 10.83 per cent stake in the company, taking the valuation of the mobile wallet firm to $330 million. In the next few weeks, MobiKwik would launch a debit and credit wallet. 

According to MobiKwik, association with Bajaj Finance would help it add a host of financial services, as the firm would extend credit facilities through MobiKwik's mobile app. "MobiKwik app