MobiKwik’s parent raises $50million in funding
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Also read: One wallet to pay for them all: MobiKwik ties up with Zomato, OYORooms
The Series-C round was closed last month and also had the company's existing investors
"MobiKwik is excited to have raised an undisclosed amount in the Series-C round of funding led by GMO and MediaTek. GMO is Japan's leading payment gateway and MediaTek is the world's leading semiconductor company," said a mail that the company spokesperson wrote to ET, without commenting on the specifics of the deal.
It was in March that MobiKwik's CEO Bipin Preet Singh had said that the company was looking to raise an amount between ranging from $40 to 50 million.
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According to a statement released by GMO Payment Gateway, the company has made the investment through GMO Global Payment Fund, a $15-million fund that is backed by major financial institutions, including, credit card issuers and acquiring banks. The fund targets investment opportunities among payments companies throughout Asia, while putting a strong focus on South East Asia.
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