A naukri.com initiative
Inc42
2d
233
Image Credit: Inc42
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.
Read Full Article
14 Likes
For uninterrupted reading, download the app