Mobikwik turns profitable in the year 2022 -2023. Aims to double profit next year.!!!
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Upasana Taku, the co-founder of fintech major MobiKwik, said the company turned profitable in the March quarter of the financial year 2022-23. In the current year, the company is aiming to double the revenue and achieve profitability for the complete year. The last financial year, the platform made Rs 560 crore as revenue. In 2024, the company is aiming for a profit of Rs 50 crore. She further said that number of active credit users soared from 2 million to 4 million. She said the 'Buy Now Pay Later' scheme helped them achieve the favorable results. She also said that MobiKwik will bring IPO after 2-3 profitable consecutive quarters. The company had last raised funds in December 2021 at a valuation of 700 million dollars (Rs 5,723 crore). However, the valuation rose to over one billion after his employees exercised ESOPs.
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Paytm still not making profit. 😂
Is profit me se 800 mere hai jo mobikwik ne last month rakh liye the🥲🥲
Mera 1103 rakh lia
Can you elaborate what happened with your cashback and why it was kept by the company?
Seeing multiple people commenting mera rakh liya, Very curious to know what happened XD
What about taking taking loan from mobikwik n full fill our losses, mjhe cibil ki parwah nhi h btw
Cheap and obvious case of "cherry-picking" .. show only what is good 😠
Show: March quarter (q) was profitable.
Hide:
How much was March q profit? (Even ₹1 profit technically makes q profitable)
What about profits of previous 3 qs?
How much revenue was sacrificed to make March q profitable? etc etc
Billion dollar valuation my foot. Startup bubble has burst 💥 They will be lucky to get half of 2021 valuation.
Technology is becoming a tool to democratise financials," said Upasana Taku. Gurugram-based payment service provider MobiKwik plans to file for an Initial public offering (IPO) in the next 12-18 months, Upasana Taku - Chairperson, Cofounder & COO of the company told Moneycontrol on March 21, 2023.
IPO effect..
1000 rs toh merese loota aa😅.