MobiKwik to invest Rs 300 cr to expand user base

Mobile wallet MobiKwik says it plans to invest Rs 300 crore in office expansion, technology and marketing.

The company is in talks with multiple investors for its next round of funding. The present expansion would help it put its best foot forward.

The money would be spent on expansion aimed at growing its user base from the current 50 million to 150 mn; they hope to achieve this within a year. The increase in user base would push its annual gross merchandise value (GMV) to $10 billion by the end of the year, from the current $2 bn (Rs 13,300 crore), says