An Indian online payments platform MobiKwik is all set to raise funds from investors including Black Rock Inc., and others valuing the company at about $1 billion.
Gurgaon headquartered company MobiKwik is in advanced talks to raise another round of funding from Bank of Baroda as well as Canara Bank. If this deal is finalized, then MobiKwik will be the second startup in the India’s fintech industry after the Alibaba backed Paytm.
India’s first unicorn One97 Communications is also in talks with SoftBank to raise as much as $1.4 billion, some close sources reported.
Founded by a couple Bipin Preet Singh and Upasana Taku, in 2009, MobiKwik is trying hard to compete with PayTm which is now holding the top most position in the Indian e-payments platform. Interestingly, both, PayTm and MobiKwik are keen to acquire Freecharge.
MobiKwik offers a varied service which includes mobile phone based payment system. This company has more than 55 million customers till date.
Meanwhile, spokesperson for Canara Bank, Bank Of Baroda and MobiKwik were not responding to the emailed queries. Well, waiting for an official statement to confirm this news.