IPO-bound MobiKwik's revenue jump 62% in FY24

IPO-bound MobiKwik, a prominent Indian fintech startup, reported a significant 62% surge in revenue for the fiscal year 2024. This growth underscores the company’s strengthening position in the digital payments and financial services sector. Earlier this year, MobiKwik announced plans to raise ₹700 crore through an Initial Public Offering (IPO), which will consist solely of a fresh issue of equity shares with no offer-for-sale component. The revenue boost reflects MobiKwik's ongoing efforts to expand its user base, enhance its product offerings, and solidify its market presence ahead of the IPO. The company’s strategy includes focusing on digital payments, Buy Now Pay Later (BNPL) services, and other financial products, catering to a growing demand for convenient and secure online financial transactions in India. This financial momentum and strategic IPO planning are expected to position MobiKwik favorably in the competitive fintech landscape.