MobiKwik plans to double revenue for 2021

Digital wallet MobiKwik on Wednesday said it will double its revenues for the year 2021.

The company doubled its revenue in the payment gateway business in 2019. It’s on track to double the revenues in 2020 and is confident of doubling it yet again in 2021, said a release.

ALSO READ: MobiKwik targets Rs 1500 crore disbursement in FY2020

The business growth is attributed to the addition of new customers, scaling-up of existing customers and offering new products. In the payment gateway business unit, the company broke even in April 2019 and has been profitable every month since then, the release added.

Upasana Taku, co-founder, MobiKwik said, “We have seen strong traction in our payment gateway business in 2019 and are targeting aggressive (doubling of) revenue goals next two years. Our formula is simple and time-tested – razor sharp focus on select growth levers, continuous new product development, and discipline of long term business build out.
The payments app, which competes with Paytm in the finance tech space, had disbursed over one lakh digital loans in September last year.

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