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MobiKwik Spins The Revenue Wheel
- MobiKwik, a Gurugram-based fintech company, has seen a decline in its stock value since its IPO, currently trading at INR 304.85.
- Higher-than-expected losses in the December quarter and a drop in revenue from lending business have contributed to the company's recent challenges.
- To counter these setbacks, MobiKwik is focusing on diversification by introducing new investment and wealthtech platforms, along with insurance broking.
- Despite a dip in lending revenue, MobiKwik's overall revenue from operations has seen an 18% YoY increase to INR 269.47 Cr.
- The company is looking to balance its lending portfolio by introducing new products and also aims to expand into wealthtech and insurance broking.
- MobiKwik faces strong competition in the wealth tech space from companies like Groww, Zerodha, and Paytm Money.
- The company's entry into investment tech includes the acquisition of a stake in Blostem Fintech to expand into fixed deposit aggregation.
- MobiKwik has over 17.2 Cr users but converting them to start investing through the platform poses a challenge amidst stiff competition.
- MobiKwik is taking steps towards becoming a super app but faces hurdles such as compliance issues and controls within the fintech industry.
- While MobiKwik aims for growth in revenue streams, it must navigate challenges in the market similar to those faced by Paytm and other fintech giants.
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