MobiKwik claims 6M registered users, aims to facilitate mobile recharges worth Rs 1,000 Cr in FY15

7 Jul, 2014

MobiKwikGurgaon-based One MobiKwik Systems Pvt Ltd, which owns and operates the online recharge platform Mobikwik.com, claims to have crossed the six million registered users mark. According to the company, most of this growth has been organic, since it had only recently started investing in marketing. It is now looking to facilitate mobile recharges worth Rs 1,000 Cr in FY15.

"We have seen organic growth in numbers from the time we went live. In the initial years, we focused on delivering a great product experience and relied on word-of-mouth for user acquisition. But over the last few months, we have started investing in marketing initiatives to add fuel to the fire," said Upasana Taku, head, business development and merchant operations at MobiKwik.

"A slew of marketing campaigns have been planned that will not only address the issue of lack of trust for non-users, but also raise awareness around the brand and product proposition," she added.

Founded in 2009 by Bipin Preet Singh (CEO), MobiKwik enables prepaid mobile, DTH and data card recharges, post-paid mobile bills payment and utility bill payment for electricity, gas and landline connections. It also offers these services via SMS, phone and apps that are available for Android, iOS and Java platforms. Headquartered in Gurgaon, the company is looking to increase its team size to over 100 by 2014 end.

MobiKwikIts mobile wallet allows users to add money to a prepaid wallet through net banking, credit card or debit card, post that they can use it for multiple transactions. Customers can store up to Rs 50,000 in the wallet at a time and use it to purchase goods and services on third-party merchant websites and mobile applications.

The company recently added a new feature to its mobile wallet that enables its customers to transfer cash offline and deposit in their wallet, instead of transferring the amount online from their bank accounts.

MobiKwik serves clients across verticals including entertainment, travel, dining, food, digital goods, shopping, gaming and donations. Its merchant partners include leading players like eBay, RedBus, Dominos, and BookMyShow, among others. It is now targeting more than 1,000 merchants this year.