How MobiKwik aims to break even at Rs 480 cr with Rs 20-insurance policies

MobiKwik plans to raise $50 million from an investor before its IPO.The company expects revenue to reach Rs 480 crore in the 12 months ending next March

Loans of as little as $30 and life insurance policies for as low as thirty cents a month: that’s what an Indian digital-payment company wagers will double its revenue and help it break even this year.

In its 10 years of existence, One MobiKwik System Pvt. has expanded from online payments into financial products including insurance, gold and mutual funds. The company, which plans an initial public offering in the next two years, sees its diverse offerings as key to growth in the still nascent industry.

“The number of digitally paying users in India is still not more than 180