MobiKwik, leading mobile wallet and Buy Now Pay Later platform, strengthens its Board of Directors with the induction of four highly reputed independent directors.
The appointments were followed by the filing of the Draft Red Herring Prospectus with SEBI on 12th July 2021, the appointment of an experienced and robust Board takes the company one step closer to being the first fintech company to list in India. The appointments include investment professional and former MD of Blackstone and Oppenheimer Dr. Punita Kumar Sinha, accomplished diplomat and the former Ambassador of India to Egypt and UAE Navdeep Singh Suri, fintech entrepreneur and co-founder of PaySense Sayali Karanjkar and Chief Technology Officer of LinkedIn Raghu Ram Hiremagalur.
Speaking at the announcement, Bipin Preet Singh, MD, CEO & Co-founder, MobiKwik said, “When we started MobiKwik, we had an unwavering vision to leverage technology and make Digital Payments accessible to all of India. We have come a long way since then, earning the trust of over 108 million users and 3.4 million merchants. Today, we at MobiKwik are hungrier than ever our mission of financial inclusion and are confident that our interest free ‘Buy Now Pay Later (BNPL) offering – MobiKwik Zip’ is ideal to democratise access to credit for Bharat.
As a company, we stand on the precipice of a monumental milestone – an Initial Public Offering in India. It is of utmost importance that the Board believe in our journey, our people, and our vision over the next decade and more. In my extensive conversations with Punita, Navdeep, Sayali and Raghu, I have found a harmony in their beliefs and MobiKwik’s vision. I see this as being foundational as we head into our next phase as a publicly listed company. The holistic expertise of our new Board members in our sector, public policy, technology and business will provide an added thrust to MobiKwik’s strategic direction.”
MobiKwik is currently planning for an IPO and has filed the Draft Red Herring Prospectus with SEBI. The company is profitable at the segment level across all 3 segments, and has seen a revenue growth (CAGR) of 37% in the last 2 years (FY19-21)