Mobikwik sees revenue run rate doubling this fiscal

Firm sees a pick-up in usage of its mobile wallet user base as it builds partnerships in the country

Digital payment solutions firm aims to double its revenue run rate to Rs 4,000 crore in the current fiscal as it sees a pick up in usage of its mobile wallet user base and increases partnerships in the country.

The company expects 20-25 per cent of its revenue run rate to come from the travel vertical.

Revenue run rate is a term used in online retailing to indicate total value of merchandise sold over a time-frame.

The company has recently tied up with firms like MakeMyTrip, Cleartrip,Yatra.Com and Goibibo, where users can pay for hotel and transport bookings via MobiKwik wallet.

"Travel is one of the biggest segments in online commerce and we expect it to account for a significant proportion. We expect to facilitate travel and hotel bookings worth Rs 200 crore over the next 12 months," MobiKwik Founder and CEO Bipin Preet Singh told PTI.

MobiKwik, which competes with the likes of Paytm and PayU, claims to have 17 million users of its wallet service.

According to IAMAI's Digital Commerce Report 2014, the Indian online travel industry, pegged at $8.2 billion, has been growing at around 20 per cent year-on-year and constitutes 61.4 per cent of the total online commerce in India.

Similarly, the market for online hotel bookings is expected to reach $1.8 billion by 2016 with over 8 million Indians booking their hotel rooms on the Internet, according to a report by Google.

MobiKwik, which is is eyeing a revenue run rate of Rs 4,000 crore this year, expects travel to account for 20-25 per cent of this.

"We are witnessing a strong traction in user growth and usage of our wallet service. The wallet sizes are also growing... Travel is a big segment for us and we expect 20-25 per cent of our revenue," Singh said.