# MobiKwik

> Source: https://docs.barcoder.ai/docs/wallets/mobikwik
> research date 2026-05-29 · extracted at 2026-10-07
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [MobiKwik — official](https://www.mobikwik.com/)

## Overview

**MobiKwik** is **India's veteran fintech wallet + payments + lending platform**, operated by **One MobiKwik Systems Limited** (NSE: MOBIKWIK, BSE: 544362) — founded **April 2009 by Bipin Preet Singh + Upasana Taku** <sup>[1][1], [2][2]</sup>. By **FY25**, MobiKwik had **176.40 million registered users + 36 million MAU + 2.5 million daily wallet transactions + 500 million UPI transactions + $2.7B annual bill payments**. **Dec 2024 IPO** subscribed **125.69 times** — among India's most successful 2024 fintech IPOs. **Post-IPO strategy**: 60% of IPO proceeds invested in AI + R&D push.

## History

**April 2009 — MobiKwik founded** <sup>[2][2]</sup> by **Bipin Preet Singh + Upasana Taku** as one of India's earliest mobile-wallet platforms.

**2013-2018 — Mass Indian-wallet adoption** during pre-UPI mobile-payments era <sup>[2][2]</sup>.

**Dec 11-13, 2024 — IPO**: Subscribed 125.69x; price band ₹265-279; Rs 572 Cr issue <sup>[1][1]</sup>.

**Post-IPO 2025 — AI + R&D investment (60% of IPO proceeds)** <sup>[3][3]</sup>.

**FY25 — 176.40M registered users + 36M MAU** <sup>[1][1]</sup>.

## Ownership & operator

**Operating entity**: **One MobiKwik Systems Limited** (NSE: MOBIKWIK, BSE: 544362) — listed Dec 2024.

**Co-founders**: **Bipin Preet Singh (CEO)** + **Upasana Taku (COO)**.

**Major investors**: Sequoia (now Peak XV), American Express, Cisco, Bajaj Finance, Net1 (now BR.com), Tree Line Asia + public float.

**Regulator**: **RBI** (prepaid payment instrument + payment aggregator).

## Technical integration

| Layer | Description |
|---|---|
| **Channels** | MobiKwik mobile app (iOS + Android) + web (mobikwik.com) |
| **Identifiers** | Phone number + VPA + QR code |
| **Sub-products** | **MobiKwik Wallet (closed-loop)** + **MobiKwik UPI** + **MobiKwik Mall** (e-commerce) + **Boost** (BNPL) + **Zaakpay** (payment gateway) + **MobiKwik Lending** (consumer + merchant credit) + **Xtra** (wealth management) |
| **UPI** | **[UPI QR](https://docs.barcoder.ai/docs/standards/upi-qr)** integration |
| **Standards** | UPI + BBPS |

## Users & growth

**FY25** <sup>[1][1]</sup>:
- **Registered users**: 176.40 million
- **MAU (early 2025)**: 36 million (+20% YoY)
- **Wallet transactions**: ~2.5 million daily
- **UPI transactions**: 500 million
- **Bill payments**: $2.7+ billion (2025)
- **Merchants (June 2024 baseline)**: 4.26 million

**Dec 2024 IPO**:
- **Subscription**: 125.69x
- **Price band**: ₹265-279
- **Issue size**: Rs 572 Cr

## Use cases

Mobile recharges + DTH (original MobiKwik use case); bill payments (>$2.7B 2025); UPI P2P + merchant; MobiKwik Wallet closed-loop; Boost BNPL; Zaakpay payment gateway for merchants; MobiKwik Lending consumer + merchant credit; Xtra wealth management.

## Implementations & partners

**Operator**: **One MobiKwik Systems Limited** (NSE: MOBIKWIK).

**Major Indian competitors**: **[PhonePe](https://docs.barcoder.ai/docs/wallets/phonepe)** + **[Google Pay](https://docs.barcoder.ai/docs/wallets/google-pay)** + **[Paytm](https://docs.barcoder.ai/docs/wallets/paytm)** + **[BharatPe](https://docs.barcoder.ai/docs/wallets/bharatpe)** + **[CRED](https://docs.barcoder.ai/docs/wallets/cred)**.

**Regulator**: **RBI + NPCI**.

## Fun facts

- **April 2009 founded by Bipin Preet Singh + Upasana Taku** — among India's earliest mobile-wallet pioneers (pre-UPI era).
- **176.40M registered users + 36M MAU (FY25)**.
- **Dec 2024 IPO subscribed 125.69x** — among India's most successful 2024 fintech IPOs.
- **60% of IPO proceeds invested in AI + R&D** (2025 strategy).
- **Multi-product breadth**: Wallet + UPI + Mall + Boost (BNPL) + Zaakpay (gateway) + Lending + Xtra (wealth).
- **Co-founder Upasana Taku** — one of few Indian female fintech founders to lead a public company.
- **Bajaj Finance + American Express + Cisco strategic investors** — diverse cap table.

## Comparison

| Feature | MobiKwik | [Paytm](https://docs.barcoder.ai/docs/wallets/paytm) | [Freecharge](https://docs.barcoder.ai/docs/wallets/freecharge) | [CRED](https://docs.barcoder.ai/docs/wallets/cred) | [BharatPe](https://docs.barcoder.ai/docs/wallets/bharatpe) |
|---|---|---|---|---|---|
| Operator | **One MobiKwik Systems (NSE/BSE-listed Dec 2024)** | One97 Communications (BSE/NSE) | Axis Bank subsidiary | Dreamplug Technologies | Resilient Innovations |
| Type | **Veteran wallet + UPI + lending + multi-product** | Super-app + UPI | Wallet + Axis Bank UPI integration | Premium credit-card bill-payment + UPI | SMB merchant + POS + lending |
| Users | **176.40M registered / 36M MAU** | 72M MTU (recovering) | 100M+ | 12M+ members | 17M merchants |
| Listing | **NSE/BSE (Dec 2024 IPO, 125.69x oversubscribed)** | BSE/NSE (Nov 2021) | Axis Bank subsidiary | Private ($6.4B peak) | Private |
| Distinctive | **Earliest pre-UPI wallet + Dec 2024 IPO 125x oversubscribed + AI/R&D push** | Post-PPBL recovery + Paytm Soundbox | Axis Bank Gold-on-UPI Oct 2025+ | Premium-tier + ~₹2K ARPU | SMB merchant focus + FY25 profitability |

## Status

**Active, publicly-listed Indian veteran fintech** <sup>[1][1], [3][3]</sup>:
- **One MobiKwik Systems Limited** (NSE: MOBIKWIK; listed Dec 2024).
- **176.40M registered users + 36M MAU (FY25, +20% YoY)**.
- **2.5M daily wallet tx + 500M UPI tx + $2.7B bill payments (2025)**.
- **Dec 2024 IPO subscribed 125.69x**.
- **60% of IPO proceeds invested in AI + R&D**.

## Sources

[1]: https://coinlaw.io/mobikwik-statistics/ "MobiKwik Statistics 2025 — CoinLaw"
[2]: https://www.mobikwik.com/ "MobiKwik — official"
[3]: https://www.medianama.com/2025/09/223-mobikwik-invests-60-percent-ipo-in-ai/ "MobiKwik AI/R&D push — Medianama"
[4]: https://groww.in/ipo/mobikwik-ipo "MobiKwik IPO — Groww"

- [1] [MobiKwik Statistics — CoinLaw][1]
- [2] [MobiKwik — official][2]
- [3] [MobiKwik AI/R&D push — Medianama][3]
- [4] [MobiKwik IPO — Groww][4]

## Source

Biography extracted from [mobikwik.md](https://docs.barcoder.ai/source/wallets/mobikwik). See `matrix.md` for standards-support matrix if present.