MobiKwik, an Indian-based payments service provider, has made arrangements with investors to raise $100M in funding after shelving its plan for its 2022 initial public offering (IPO). The company will use the money to expand its marketing efforts, hire additional personnel, and accelerate growth through strategic acquisitions. MobiKwik had previously raised $20 million from the Abu Dhabi Investment Authority, which valued it at $700 million at the time. Subsequent to that funding, in October 2021, Mobikwik gained unicorn status.
After Delaying IPO, Mobikwik Plans To Raise $100M