Mobikwik’s gross revenue jumps to ₹184 cr

Priyanka Pani Mumbai | Updated on May 19, 2019 Published on May 19, 2019

Mobikwik’s unaudited gross revenues grew to ₹184 crore during financial year 2019, against ₹85 crore in the year-ago period, on the back of its increased focus on offering financial products and services.

It did not report its net revenues for the said period.

Digital payments

Upasana Taku, co-founder of Mobikwik, told BusinessLine that going forward the company expects to growth its bottom-line and top-line from the financial products segment. At present, about 80 per cent of its revenue comes from the digital payment side. However, financial products contribute more towards the margins.

“Financial products have better margins at 5-6 per cent, compared to 1-2 per cent in the digital payments business. We expect to turn Ebidta-positive in the next 3-4 months,” said Taku, adding that for the next three years, the company will focus on growing its business profitablyto tap the public market through IPO.

Taku further added that there is huge potential in the financial services market and that the company has taken a differentiation approach to launch financial products in ‘sachets’ to the next 1-billion mobile users that live outside the top-five cities in India.

In its seven-page annual report, Bipin Preet Singh, Mobikwik’s co-founder and CEO, said the company’s vision is to build affordable and accessible financial services. The company originated over 350,000 loans worth $55 million (₹385 crore), and plans to disburse over ₹1,500 crore across 1.2 million loans in FY2020.

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Published on May 19, 2019
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