Exclusive: China’s Tencent close to investing more than $150 mn in FreeCharge

snapdeal_feSnapdeal, India’s third-largest e-commerce venture is in talks with Chinese Internet giant Tencent to raise more than $150 million for its digital payments platform FreeCharge, a person close to the development told VCCircle. “Tencent and FreeCharge have had intense discussions over the past two weeks and the talks are in advanced stages,” the person said […]

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We are pretty much neck-to-neck with Paytm: MobiKwik’s Mrinal Sinha

Mrinal SinhaDigital wallet firm MobiKwik is betting big on the offline space and expects the biggest chunk of its business coming from this segment in the next 18-24 months. The Gurgaon-based company aims to increase the number of users almost five-fold within two years and says it is set to cross $2 billion in transactions this […]

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Mumbai, NCR startups corner bulk of seed funding; MobiKwik gets VC money

Mobile payments startup MobiKwik led the fundraising activity this week. In a statement on August 26, the digital wallet company said it had raised $40 million in Series C round from South Africa-based mobile payment solution provider Net1. This was the largest deal announced in the week. Of the19 startups that raised investment, two were […]

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South African payment firm Net1 to invest $40 mn in Mobikwik

Mobikwik_feNASDAQ-listed South African payment solutions and transaction processing company Net 1 UEPS Technologies Inc. has signed a subscription agreement with India’s digital wallet firm MobiKwik. As part of the partnership, Net1 will invest $40 million in MobiKwik, and will integrate its Virtual Card technology across MobiKwik wallets. “Our strategic investment in MobiKwik provides us with […]

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MobiKwik to power e-cash payments on IRCTC’s Food on Track app

MobiKwikMobile payments company MobiKwik and Indian Railway Catering and Tourism Corporation (IRCTC) have tied up to allow travelers to make e-cash payments on IRCTC’s e-catering app Food on Track. MobiKwik will power e-cash payments on the Food on Track app, which allows passengers to book food from restaurants have it delivered to their coaches. Passengers […]

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Rajinikanth’s Kabali rings in rewards for Mobikwik, Foodpanda, Voonik & others

KabaliIt isn’t only the producers of Kabali that are dancing in joy over the record-breaking success of the film, hordes of startups that launched marketing campaigns riding piggyback on age-defying superstar Rajinikanth, too, are celebrating. For, their decision to tread the much-beaten track of aligning with a popular film actor paid rich rewards even as […]

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MobiKwik and FreeCharge trade barbs as mobile wallet war gets nasty

Which is the number two mobile wallet company in the country? That question has sparked off an online spat between digital recharge platform and mobile wallet venture MobiKwik, run by One MobiKwik Systems Pvt Ltd, and Snapdeal-owned rival FreeCharge. A Nielsen report on mobile wallets released last month said FreeCharge was the fastest growing digital […]

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MobiKwik scraps 6% annual profit scheme

mobikwik-(1)Mobile wallet MobiKwik has scrapped a scheme that promised a so-called annual profit to its users after regulatory intervention, less than a week after announcing the offer. Gurgaon-based One MobiKwik Systems Pvt Ltd had only last week announced a plan to offer 6% annual profit to users who maintained a monthly balance of at least […]

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MobiKwik offers ‘profit’ to pique interest among wallet users

MobiKwikDigital wallet company MobiKwik, which last year missed the bus for a payments bank licence, has hurled a googly at its biggest rival Paytm by announcing an “annual profit” for its wallet users. Gurgaon-based One MobiKwik Systems Pvt Ltd, which has about 30 million wallet users and expects to increase this to 70 million users […]

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Fintech startup TranServ hires former MasterCard, MobiKwik executives

Salil-modyMumbai-based digital payments company TranServ Pvt Ltd has strengthened its top deck with two senior-level appointments. The company has appointed Salil Mody as senior vice president of corporate strategy and Ushpinder Singh as senior vice president and head of its merchant business. Mody, who most recently worked at MasterCard, will focus on driving corporate strategy, […]

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