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<ul><li>Mobikwik aims to turn profitable by 2020-21. </li><li>It has a wide client list with IRCTC, Uber, Blue Dart and Hyundai. </li><li>Mobikwik’s revenues in FY 2019 was 3.5 times higher than those in previous year, at ₹18.4 billion. </li></ul> Indian payments startup Mobikwik has ambitious plans for growth, and yet want to chart its path with profitability in sight. In July this year, its payment gateway business turned profitable but that is not their endgame. Mobikwik which has an enviable client list like IRCTC; and multinationals like Uber, Blue Dart and Hyundai. It also managed to attract startups like Zomato, Grofers, Dream 11 for its payments business. “We will double down on our fintech scaleup in 2020 to make 2020-21 our first full year of profitable growth. Once we hit this landmark milestone, we will march forward towards an IPO in 2023-24. We will aspire to become the first Indian fintech and first Indian payments - company to get listed in India,” the company said in response to queries by Business Insider India. Mobikwik’s revenues in FY 2019 was 3.5 times higher than those in previous year, at ₹18.4 billion. It chased credit growth and disbursed 350,000 fully digital loans, and its loan book now stands at $24 million. Alongside this rapid growth, it is hoping that its revenues will swell to ₹4.8 billion by the end of the current financial year. It hopes to achieve a pretax profit break-even by the end of 2019. In July, the company raised as much as ₹8.67 crore from Trifecta Capital and NDTV. Its previous investors include Sequoia Capital and American Express among others. “Over 94 million unique cards are saved on MobiKwik PG platform; this includes 20 million credit cards which is 50% of all credit cards issued in India,” the company said. It has a network of over 3 million direct merchants and over 107 million users.

Mobikwik aims to become the first payments startup to list on Indian bourses

<ul><li><keyword id="143842" type="COMPANY" weightage="20" keywordseo="Mobikwik">Mobikwik</keyword>, a digital payments company, has said that its payment gateway business has turned profitable. </li><li>With an IPO in mind, the company is now aiming for a ₹1.4 lakh crore annual payment volume from the payment gateway business.</li><li>Earlier in July, Mobikwik had reported a funding of ₹8.67 crores. </li></ul>Mobikwik, one of India’s leading digital payments companies, has claimed that its payment gateways vertical had turned profitable since April 2019. “Our focus on building the best tech stack for our merchants is evident in the growth and success of our Payment Gateway business. Our product and user experience (UX) philosophy is to keep the user experience simple and ultra fast. Payment Gateway is one of our fastest growing verticals and will play an instrumental role in our path to profitability,” said Upasana Taku, Co-Founder, MobiKwik. With this, the payments company now aims to ₹1.4 lakh crore annual payment volume for its payment gateway business. As a payment gateway, Mobikwik finds clients in businesses like Uber, IRCTC, Dream11, Bajaj Finance, Zomato, Grofers, Blue Dart, Delhivery, Dominos, Maruti Suzuki, Hyundai, etc. “Over 94 million unique cards are saved on MobiKwik PG platform; this includes 20 million credit cards which is 50% of all credit cards issued in India,” said the company’s official statement. In July, the company had also announced a new round of funding of ₹8.67 crore from Trifecta Capital and NDTV. Its previous investors include Sequoia Capital and American Express among others. According to <a href="https://economictimes.indiatimes.com/markets/ipos/fpos/ahead-of-ipo-mobikwik-scouts-for-investor-eyes-profit-from-fy21/articleshow/69810493.cms?from=mdr">reports</a>, Mobikwik is also planning to head for an IPO in the next three years. "We are looking for an investor who will help the company go for an initial public offering (IPO) in three years," co-founder and chief executive Bipin Preet Singh told <a href="https://economictimes.indiatimes.com/markets/ipos/fpos/ahead-of-ipo-mobikwik-scouts-for-investor-eyes-profit-from-fy21/articleshow/69810493.cms?from=mdr">ET.</a> Mobikwik finds competition from the likes of Paytm, PayU and Razorpay in the payment gateway business. Paytm claims to hold over 50% of the market share and has said that it does 400 million transactions per month; is five times more than its next competitor. A report by Credit Suisse Group AG says that the Indian digital payments market will increase five-fold from the current $200 billion to $1 trillion by the year 2023. This has also resulted in many international players eyeing the Indian market like <a href="https://www.businessinsider.in/google-wallet-creator-osama-bediers-startup-poynt-will-launch-in-india-in-2019/articleshow/68145220.cms">Osama Bedier's Poynt.</a> Bedier is also credited to be the creator of the Google Wallet. In June 2019, Mobikwik had also partnered with DT One, a global B2B network for mobile recharge, giving its users the opportunity to recharge their phones in 150 countries. MobiKwik’s competitor in India, Paytm had already entered two international markets – Canada and Japan.

Heading for an IPO, Mobikwik reports a profit in its payment gateway business

<ul><li>Even with the failures of <keyword id="8143915" type="UNKNOWN" weightage="20" keywordseo="uber-and-wework">Uber and WeWork</keyword> in the US market, Indian startups are optimistic about their public offer. </li><li>Here’s a list of India’s most prominent startups which could soon head for an IPO. </li><li>Recently, startups like Ola, Lenskart and Policybazaar had appealed to SEBI to make the rules easier for a startup listing.</li></ul>Startups might be looking at new avenues to raise money. And, thanks to their popularity with consumers, it is possible for them to raise it from the public. As the IPO fever has gripped the US markets, Indian founders are watching their performance closely. In spite of tepid response that Uber received and WeWork’s debacle, Indian startups are stubbornly working towards taking their companies public. However, to get funds en masse, companies should be able to show profits. And few startups would qualify. This too is not discouraging startup founders who are confident that their business model will find takers. Recently, <a href="https://inc42.com/buzz/ola-lenskart-and-policybazaar-demand-change-ipo-listing-sebi-guidelines/">startups </a>like Ola, Lenskart and Policybazaar appealed to market regulator SEBI to relax rules for startups to list. Here are the startups who could be making their market debut soon. Uber’s answer: Ola The homegrown ride hailing unicorn has set off strong rumours of an imminent <a href="https://inc42.com/buzz/ipo-is-mobility-unicorn-ola-gearing-up-for-public-listing/">IPO</a> as it has raised fresh funding of ₹35.88 crores from ARK Ola pre-IPO Fund. The fund is based out of Seoul and <a href="https://entrackr.com/2019/09/exclusive-ola-set-up-pre-ipo-trust-public-listing-2-years/">reports</a> say it was formed to aid its IPO plans. The Bhavish Aggarwal-led company has been actively entering new markets across the world, and had also recently set up a technology hub in the Bay Area. Oyo’s fast paced growth and a possible market listing Another company that has been reported to be eyeing an IPO, while also through a fast paced expansion process. Oyo Hotels &amp; Homes is entering new markets or hitting new milestones in a current markets. And reports say, all of its achievements could be leading up to a large IPO that it is planning. A <a href="https://www.livemint.com/companies/start-ups/oyo-s-preparing-to-list-in-next-2-3-years-eyes-up-to-18-billion-valuation-1562609045816.html">Mint</a> report says that the company is looking at a $18 billion valuation and an IPO in 2-3 years. Vijay Shekhar Sharma can’t be far behind Vijay Shekhar Sharma’s PayTm is one of India’s prized payment gateway innovation. At a recent <a href="https://www.hindustantimes.com/business-news/ht-mintasia-leadership-summit-paytm-to-start-planning-ipo-in-22-24-months-says-ceo-vijay-shekhar-sharma/story-67K1gh0yeRbK6Mkd7IfXWK.html">summit</a>, Sharma said that the company will start preparing for an IPO in the next two years. In the financial year 2018-19, Paytm had clocked in a gross transaction value of $50 billion through 5.5 billion transactions. It has also set a target of 12 billion transactions by FY20. <keyword id="143842" type="COMPANY" weightage="20" keywordseo="Mobikwik">Mobikwik</keyword>’s desire to be the first payments company to be listed Paytm’s competitor Mobikwik is not too far behind. In July, its payment gateway business has turned profitable. “We will march forward towards an IPO in 2023-24. We will aspire to become the first Indian fintech and first Indian payments - company to get listed in India,” the company earlier told <a href="https://www.businessinsider.in/mobikwik-aims-to-become-the-first-payments-startup-to-go-for-an-ipo/articleshow/70987513.cms">Business Insider India</a>. Mobikwik’s revenues in FY 2019 was 3.5 times higher than those in previous year, at ₹18.4 billion. After all the troubles, Urban Ladder wants profitability and an IPO Online furniture retailer Urban Ladder has been eyeing an IPO for long now. It has said that it is confident of going ahead with it in the next two years. Urban Ladder is in an expansion mode, and as it hopes to turn profitable by the end of 2019. Urban Ladder underwent an organizational restructuring earlier this year, and had to let go off 90 employees. Some of its marquee investors include Ratan Tata, Sequoia India, Steadview Capital, SAIF Partners, and Kalaari Capital. Talking of furniture, Pepperfry is in too! Another furniture retailer, Pepperfry too is closing in on its IPO plans. In an interview with <a href="https://qz.com/india/1714225/pepperfry-indian-furniture-e-commerce-firm-eyes-profits-ipo/">Quartz</a>, Ashish Shah, co-founder of Pepperfry said that they are planning an IPO in one and a half years. Pepperfry has been scaling up its businesses and is also looking at achieving its $1 billion GMV <a href="https://www.moneycontrol.com/news/business/companies/pepperfry-targets-gross-merchandise-value-of-1-billion-by-2021-3754081.html">target</a> by 2021. With over 6 million customers, Pepperfry has 39 offline studios across 22 cities in India. It is also on an expansion mode.

These marquee Indian startups could be lining up for some big-bang IPOs

2015 was a landmark year for <keyword id="6362513" type="ORGANIZATION" weightage="100" keywordseo="Startups">startups</keyword> in India. The world stood up and took notice of the amazing startup ecosystem here with investments for over<a href="http://yourstory.com/2015/12/indian-startups-raise-9billion-2015/"> 1000 startups valued at $9 billion</a>.The spotlight was on how startups would be the pillars of India's economy and give a much needed impetus to India's growth by providing employment to millions. 

	<o:p> And, with <keyword id="2783177" type="UNKNOWN" weightage="100" keywordseo="Budget-2016">Budget 2016</keyword>, being just a few days away, we thought it'd be interesting to</o:p> talk about the highlights one by one: 
	 
	 

	<o:p> </o:p>

	<keyword id="3003094" type="UNKNOWN" weightage="100" keywordseo="Startup-India">Startup India</keyword>: As I watched the entire startup community descend at Vigyan Bhawan to flag off the Startup India initiative, it was heartening to see the government recognise entrepreneurs as a driving force of modern change. Many new taxation and regulatory changes were promised and we eagerly wait to see how well they are implemented. TRAI's recent ruling on Free Basics is one of the first steps to ensure that any startup can leverage a free and open Internet to disrupt the status quo. Government needs to increase their focus on connecting millions through an open Internet and nip in the bud restrictive practices introduced by corporates only then would an initiative like Startup India be successful. Internet can give a voice to the unheard and to the new, and I hope government supports the startup ecosystem by aggressively ensuring that an unrestricted Internet is within everyone's reach. 
	 
	 

	<o:p> </o:p>

	<keyword id="6354869" type="UNKNOWN" weightage="100" keywordseo="make-in-India">Make in India</keyword>: I was blown away by the fact that the government had attracted investments worth $222 billion towards the Make In India initiative. Strengthening manufacturing is one of the core priorities and given India’s growing potential to be one of the top economic powerhouses in the world, I have no doubt that we can definitely achieve this. Focusing on quality STEM (Science, Technology, Engineering, and Medicine) education and supplementing blue collar workers with modern manufacturing skills is the 1st step towards this. In order to achieve economies of scale, automation is a crucial step and we need to note how it impacts millions of jobs.

	<o:p> </o:p> 
	 
	Where Startup India will meet Make In India: "Coding is the new ABC" and must be taught in schools and colleges. Make In India will only be successful if we view technology as a tool for massive, positive societal change. Think about it-Google disrupted libraries, Amazon disrupted shopping malls, Uber disrupted public transportation, and<a href="http://www.businessinsider.in/searchresult.cms?query=mobikwik"> MobiKwik</a> is disrupting cash. In order to see startups make in india the government needs to encourage more hardware startups by the means of doing away with certain import duties.

	If India is to give birth to many Silicon Valleys and encourage indigenous manufacturing then we need to start thinking on the lines of 3D Printing, Robotics, Artificial Intelligence and the like. It will propel us towards living up the ‘Make in India’ vision. 
	 
	 

	<o:p> </o:p>

	On the Wallet Sector: Internally at <keyword id="143842" type="UNKNOWN" weightage="100" keywordseo="Mobikwik">MobiKwik</keyword> we have a saying that "MobiKwik exists so that cash does not". According to a recent report until 2015 over 200 million still remain unbanked in India and <a href="http://www.livemint.com/Industry/v4zrym0BCjNvXg3qcUD30K/Indias-unbanked-population-halves-to-233-million.html">even the remaining don’t have 100% access to all the banking services</a>. The propagation and rapid adoption of mobile wallets is a step in addressing this gap. Government needs to start right at the grassroots-level and allow tax rebates to retailers in order to increase wallet usage. <a href="http://indianexpress.com/article/technology/tech-news-technology/indias-e-commerce-revenue-may-touch-38-bn-in-2016-assocham/">Cash-on-delivery still accounts for over 45 percent of e-commerce orders</a> since people are apprehensive or don’t have means to make online payments. Government needs to relax its banking norms so that mobile wallet companies can function better than banks and offer financially inclusive services to millions more. 
	 (This article is authored by <keyword id="1132860" type="UNKNOWN" weightage="100" keywordseo="Bipin-Preet-Singh">Bipin Preet Singh</keyword>, CEO of MobiKwik)

	<o:p> </o:p>

Start in India to 'Make in India': A startup CEO's plea for Budget 2016

<ul><li>Tech companies are launching 'lite' versions of their apps to bridge the gap between internet penetration and internet speeds in emerging markets like India. </li><li>'Chrome Lite Pages' and 'Firefox Lite' are two of the most recent 'lite' features to enter the Indian market. </li><li>The problem of slow internet speeds due to network congestion isn't a problem that's specific to India but other populous countries around the world as well. </li></ul>Latching onto bandwagon of 'lite' apps being introduced into the market, Google and Firefox <a href="https://blog.chromium.org/2019/03/chrome-lite-pages-for-faster-leaner.html">launched</a> the light versions of their mobile web browsers on Wednesday in India. While internet penetration may be increasing in the country, internet speeds growing at a much slower rate — 'lite' apps are a way for companies to cater to users who don't necessarily receive the best internet connectivity. 
 
 
 
 
 
 
 
 
 
 <div type="ExtQuote" text="&quot;We use built-in optimisations and Google servers to improve page loading. These optimisations are only applied when the network's effective connection type is '2G' or 'slow-2G' or when Chrome estimates the page load will take more than five seconds.&quot;" auname="Ben Greenstein, Lite Pages Technical Lead and Nancy Gao, Product Manager, Chrome on the Chromium Blog"></div>




















 But, why 'lite' apps? While there's much a hub about the potential of the online Indian market, the internet speeds in the country till compare poorly to the rest of the world. 
 
 
 
 
 
 
 
 
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 Even with 4G connectivity in India the sheer number of people coming online leads to congestion. In fact, this problem isn't specific to India but is prevalent in other countries with high populations as well, including the US. 
 
 
 
 
 
 
 
 
 
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 The 'Firefox Lite' browser is only 4MB to download — less than 10% the size of other browsers. 'Chrome Lite Pages', on the other hand, is more of a built-in feature of the original Chrome browser. The app is still 54MB to download, but Chrome optimizes an HTTPS page and only the URL is shared with Google. It should be noted that Google already has a 'Data Saver' feature in Chrome that the company claims reduces data usage to upto 90%, helping pages load twice as fast. All of Google's sites — including YouTube, Gmail, Play Movies, News and Google Search — cumulatively garnered 28 million unique visitors from India across desktop and mobile <a href="https://www.livemint.com/technology/tech-news/google-facebook-most-visited-by-online-users-in-india-comscore-1552035844751.html">according</a> to a Comscore report from January. Google's Chrome web browser already has a head start with 63% of the browser market share in India. 
 
 
 
 
 
 
 
 
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 The introduction of 'lite' apps in emerging markets like India is about capturing the 627 million users that are expected to be online in India by the end of 2019 <a href="https://www.adgully.com/ads/Internet-in-Indic_2017_Final.pdf">according</a> to a Kantar IBM Report. And, tech companies aren't only looking at browsers that looking to bridge the gap between internet speeds and internet penetration. Gaming giants are also launching a 'lite' versions of their game — like the Tencent-backed PlayerUnknown's Battlegrounds (PUBG) launched a 'lite' version of their game in February that takes 10 time less space than the original game. Even TikTok, a social media platform that's recently garnered popularity in India, has a 'lite' version of its app in the Play Store. See also: <a href="https://www.businessinsider.in/Facebook-Has-A-New-App-For-Emerging-Markets-Called-Facebook-Lite/articleshow/46022435.cms">Facebook Has A New App For Emerging Markets Called 'Facebook Lite'</a> <a href="https://www.businessinsider.in/uber-lite-is-a-sub-5mb-app-designed-in-india-but-meant-for-the-world/articleshow/64558847.cms">Uber Lite is a sub-5MB app designed in India, but meant for the world</a> <a href="https://www.businessinsider.in/MobiKwik-launches-a-light-lite-app-to-integrate-all-Indians/articleshow/55662642.cms">MobiKwik launches a 'lite' app for seamless transactions, even on basic connection</a>

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Mobikwik aims to become the first payments startup to list on Indian bourses

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Heading for an IPO, Mobikwik reports a profit in its payment gateway business

Sanchita Dash

These marquee Indian startups could be lining up for some big-bang IPOs

Sanchita Dash

Start in India to 'Make in India': A startup CEO's plea for Budget 2016

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Google and Firefox join the bandwagon of light-weight apps aimed at emerging markets like India

Prabhjote Gill

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