PUNE: Mobile wallet firm MobiKwik said today that it was expanding its presence witgh an office in Pune where it plans to hire 250 employees by March 2017. The hiring will be made across business development and sales function
“Pune has been the second largest contributor to our business from Maharashtra and has been an integral part of our growth strategy. We expect the business growth to be 400% more in 2017 with the opening of our new office and a staff commitment of 250 to support the foreseen expansion," said Upasana Taku, cofounder, MobiKwik.
MobiKwik supports cashless payments at all major petrol pumps in Pune. It is also the first city where the company has partnered with NGO Samagra to launch M-Gullak, a special financial instrument for the urban poor that helps them save as little as Rs.2 per day and have access to the digital payments infrastructure. Samagra representatives collect the amount desired for savings from urban poor residents and deposit the same in their MobiKwik accounts. With this, the unbanked and underserved urban poor population is enabled to digitally and seamlessly transfer funds to their friends & family, deposit in their bank account, recharge their phones with one tap and pay other utility bills.
"Being an IT hub and home to many prestigious educational institutions, Pune has many early adopters of digitization that makes it the right fit for our growth strategy. Our endevour is to convert all major use cases in the city to digital and promote adoption of MobiKwik to accelerate growth." Upasana added.
Among the largest mobile wallet companies, MobiKwik said it has a network of over 10,00,000 direct merchants and 45 million plus users. Founded in 2009 by Bipin Preet Singh and Upasana Taku, the company has raised three rounds of funding from Sequoia Capital, American Express, Tree Line Asia, MediaTek, GMO Payment Gateway, Cisco Investments and Net1. MobiKwik has also launched ‘MobiKwik Lite’, an under 1 mb app that works seamless on EDGE connection.
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I've spent over a decade at ET, writing on strategy and leadershi...
Read MoreI've spent over a decade at ET, writing on strategy and leadership for most of that time. My current interests are technology and tech startups and trying to understand more about the inner workings of these companies. Before joining ET, there were brief stints with Business Standard and Business Today. From reading a book a week, I'm currently down to one book over a few months. I still buy more books than I can read, but remain ever optimistic about tackling that pile. Someday.
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