The Gurgaon-based mobile wallet firm, MobiKwik is intending to increase its transaction volumes by 10 times from Rs 1 billion per month in 2014 to Rs 10 billion per month by 2016. The company is of the view that the target could be achieved by increasing its user base from the present 10 million to 100 million by 2016.
In this regard, the company is planning to raise $25 million in December 2014 in its second round of funding. Earlier in 2013, MobiKwik had raised $5 million in its Series A funding from a US-based venture capital firm.
The company?s mobile wallet facilitates users to put money in their m-wallet once in a month and use it for various transactions across travel, bus ticketing, hotels, shopping and food ordering.
