Today: 6 October 2025
4 May 2023
1 min read

MobiKwik’s gears up for 2X growth

The company’s contribution margin rose to Rs 169.5 crore in FY23 as compared to Rs 42 crore in FY22, nearly 304 per cent year-on-year growth….reports Asian Lite News

Digital banking platform MobiKwik on Wednesday said it clocked Rs 560 crore in revenue in the financial year 2022-23 and became profitable from the fourth quarter of the financial year 2022-23.

The company’s contribution margin rose to Rs 169.5 crore in FY23 as compared to Rs 42 crore in FY22, nearly 304 per cent year-on-year growth.

Fifty per cent of the company’s revenue came from the distribution of digital credit products, and the rest came from its payments business.

In Q4 FY23, MobiKwik generated Rs 160 crore in revenue, a 38 per cent contribution margin and recorded an adjusted EBITDA of Rs 3 crore.

“We aim to expand our product offerings and cross-sell financial products to deepen engagement with our large user and merchant base, which we have barely scratched the surface of,” said Upasana Taku, Co-Founder and COO, MobiKwik.

In FY23, MobiKwik also added 16 million users, taking its total user base to 140 million.

Its active credit user base also grew 100 per cent from 2 million in FY22 to 4 million in FY23.

“Our focus for the upcoming year is twofold – to increase our presence in tier 3, 4 cities and towns and to start offering financial products to our small merchants,” said Upasana.

Founded in 2009 by Bipin Preet Singh and Taku, MobiKwik has grown to serve over 140 million registered users across the country.

ALSO READ: Hackers offering crypto accounts for $30 on darknet

Previous Story

Australia’s Annalise.ai enters India

Next Story

Paytm Travel Carnival from May 1-5

Latest from Business

Rupee, Markets Gain Amid Trade Optimism

Emerging market currencies, including the rupee, have gained support amid softening in the dollar. Reports suggesting that the US economy is on the verge of a recession have contributed to the greenback’s

Gold Shines Bright Amid Global Jitters

Gold and silver continued their bullish run on Monday, scaling new highs amid mounting global uncertainties, heightened geopolitical tensions, and growing expectations of a US Federal Reserve rate cut. According to the

ADNOC signs 15-year LNG deal with Indian Oil

Under the deal, LNG cargoes can be delivered to any port across India, enhancing the country’s energy security and meeting its rising energy demand. Abu Dhabi National Oil Company (ADNOC) has signed

India Inc Eyes Upswing

Private equity (PE) remained comparatively stable in Q2, clocking 357 deals worth $7.4 billion — the second-highest volume since Q4 2022. However, deal values dipped on a quarter-on-quarter basis due to the
Go toTop

Don't Miss

MobiKwik Takes Another Shot at IPO

The DRHP comes without any offer-for-sale (OFS) component but the

MobiKwik Logs 52% Revenue Growth

With a 58 per cent increase in revenues compared to