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MobiKwik goes public in MumbaiINTL

MobiKwik goes public in Mumbai

Indian digital payments startup One MobiKwik announced it is joining the IPO gang with a Mumbai debut that could raise up to $250m. Word on the street is the company is aiming for a September listing that could bring its valuation up to $1b!

The FinTech startup offers services like digital wallets, utility bill payments, and mobile top-ups. It currently boasts over 107 million users.

There is one more obstacle to face on the way to the finish line, though. MobiKwik will have to hold a pre-IPO funding round, paving the way for the billion-dollar goal.

why it matters
The FinTech market in India is a fruitful one — the digital payments market could reach $2.3t over the next couple of years. MobiKwik has the advantage of being a desi company in India; and so (along with its upcoming IPO), it stands a better chance at competing against other tech giants.