MobiKwik plans to achieve target of Rs 1,000 crore GMV in 2017

Mobile wallet company, MobiKwik on Thursday said that it is in line to achive Rs 1,000 crore gross merchandising value (GMV) in 2017. The company plans for growing business to enable 150 million users in India in transacting with MobiKwik platform by early 2018.

It further announced that it will set up offices in 13 cities by the end of Q1 2017 and hire over 1,000 employees to drive business growth in these centres.

Upasana Taku, cofounder of MobiKwik said, “We will be investing over Rs 50 crores in setting up new offices to cater to regional requirements and will be hiring over 1,000 employees, pan India, across technical and non-technical requirements.”

The cities in which MobiKwik will be expanding its footprints are Mumbai, Pune, Bangalore, Kolkata, Hyderabad, Chennai, Ahmedabad, NOIDA, Lucknow, Vijayawada, Kochi, Jaipur and Chandigarh.

“Post demonetisation, we have observed unprecedented growth and our expansion plans are in line with our vision to achieve Rs 1,000 crore GMV in 2017,” Upasana added.

MobiKwik like other digital payment platforms has see a huge growth since November 2016 post demonetisation. The company said that it has added 9 lakh merchants and 1 crore users within the past 2 months. MobiKwik also received the license for Bharat Bill Payment System recently that enables the company to become a one stop for pan India utility and convenience bill payments, across sectors.