๐ Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. ๐ฅ
โ
Login
Home
News
Messages
Startup Showcase
Trackers
Premium
Premium Content
Jobs
Notifications
Settings
Try our Valuation Calculator โ
Log In
News on Medial
MobiKwik continues profitable streak for second quarter in a row
Economic Times
ยท
1y ago
Medial
Digital payments and financial services company MobiKwik has reported a profit for the second consecutive quarter in the fiscal year. For the quarter ending September 30, 2023, the company recorded revenues of INR 208 crore, a 17% increase from the previous quarter, and posted a total profit of INR 5 crore. Credit now contributes almost 60% of MobiKwik's topline, with the rest coming from digital payments, and the company is expanding its offerings in wealth management and personal loans.
View Source
Related News
MobiKwikโs net loss widens to Rs 55 crore as revenue growth remains flat
Economic Times
ยท
2m ago
Medial
MobiKwik reported a net loss of Rs 55 crore in the March quarter, slightly higher than the previous quarter. Operating revenue remained flat at Rs 265 crore. The fintech firm saw reduced contribution margins and slowed lending, affecting its financials. Overall expenses rose 3%, driven by increased lending costs, while full-year losses stood at Rs 122 crore despite a 31% rise in operating revenue. Mobikwik forecasts lending growth revival after FY26's second quarter.
View Source
MobiKwik DRHP: To raise Rs 700 Cr via IPO; churns profit in H1 FY24
Entrackr
ยท
1y ago
Medial
Fintech firm MobiKwik has filed a draft red herring prospectus (DRHP) with SEBI to raise Rs 700 crore from its IPO. This is the company's second attempt at going public, after abandoning their previous IPO due to weak market conditions. MobiKwik plans to use the IPO proceeds for their financial service and payment service businesses, as well as investments in data, ML, AI, and technology. The company turned profitable in H1 of FY24, with operating revenue of Rs 381 crore. MobiKwik's largest stakeholders include Bipin Preet Singh and Upasana Taku.
View Source
Exclusive: Ahead of IPO, MobiKwik raises debt from Blacksoil Capital
Entrackr
ยท
1y ago
Medial
Fintech firm MobiKwik has raised Rs 50 crore in debt from BlackSoil Capital. This is the second debt funding from the same investor in the last two years for the Gurugram-based company. The board at MobiKwik has passed a special resolution to issue 1,000 NCD (non-convertible debentures) at an issue price of Rs 5,00,000 each to raise Rs 50 crore, its regulatory filing sourced from RoC shows. Recently, Mobikwik made its second attempt to go IPO and filed its draft red herring prospectus (DRHP) with SEBI to raise Rs 700 crore from its initial public offering. However, sources assert that it may reconsider its public listing plan after Paytmโs mounting perils. According to the companyโs latest DRHP, it will use Rs 250 crore from the proceeds of the IPO for financial service business. It has earmarked Rs 135 crore for funding growth of its payment service business while it plans to deploy Rs 135 crore towards strengthening product and technology. MobiKwik turned profitable in H1 of FY24 with Rs 9.5 crore profits along with an operating revenue of Rs 381 crore. In FY23, its operating revenue, however, went up just 2.37% to Rs 539 crore. The company booked a loss of Rs 83.8 crore in FY23 which shrank 34% from Rs 128 crore in the previous fiscal year.
View Source
Blinkit quarterly contribution margin turns positive first time ever
Economic Times
ยท
1y ago
Medial
Blinkit, Zomato's quick commerce arm, reported its first-ever positive contribution margin, with a 1.3% margin as a percentage of gross order value (GOV) in the latest quarter. Zomato also remained profitable for the second consecutive quarter, earning Rs 36 crore for the quarter ended in September 2023. Blinkit aims to break even in the quick commerce business by the first quarter of FY25. The company reported an increased average order value (AOV) and growing GOV, signaling its expansion in the quick commerce sector.
View Source
MobiKwik faces criminal case for non-payment of dues to a vendor
Inc42
ยท
1y ago
Medial
Indian fintech unicorn MobiKwik, which recently filed its draft red herring prospectus (DRHP) with SEBI for its second IPO attempt, is facing a criminal case over non-payment of dues to a vendor. Xplore Private Limited has alleged that MobiKwik failed to clear 12 invoices, resulting in a loss of INR 1.61 crore. The complaint has been filed against MobiKwik and its directors. While the matter is currently pending in court, MobiKwik aims to raise INR 700 crore through a fresh issue of shares for business expansion and investment in AI and ML.
View Source
IPO-bound MobiKwik raises Rs 50 crore in debt funding from BlackSoil
IndianStartupNews
ยท
1y ago
Medial
Gurugram-based fintech firm MobiKwik has secured INR 50 crore (approximately $6 million) in debt funding from BlackSoil. The funds will help the company prepare for its upcoming IPO. MobiKwik recently refiled its draft red herring prospectus (DRHP) with SEBI to raise up to INR 700 crore through a fresh issue of shares. Although the company was unprofitable in recent fiscal years, it turned profitable in the six months leading up to September 2023. MobiKwik plans to allocate funds to its financial services, payment services, and product and technology offerings.
View Source
MobiKwik stock falls for 6th straight day, hits record low
Inshorts
ยท
5m ago
Medial
Extending its five-day losing streak, MobiKwik shares fell 5.5% to โน277.55 apiece during the early trading on the BSE today, marking a fresh all-time low. The stock remained 5.4% lower at โน277.75, compared to its previous close of โน298.85. The company market capitalisation currently stands at โน2,164.73 crore with a trading volume of 21.6 lakh shares.
View Source
Zomato Gold Members Surge to 38 Lakh
Inc42
ยท
1y ago
Medial
Zomato Gold, the customer loyalty program of foodtech giant Zomato, has gained 3.8 million members since its launch in January. The company revealed that Gold members now contribute around 40% of the gross order value of its food delivery vertical, amounting to INR 3,192 crore ($430 million) during the quarter ended September 2023. However, Zomato noted that Gold orders are less profitable due to program benefits, such as free deliveries. Despite this, Zomato reported its second profitable quarter, posting a profit after tax of INR 36 crore ($4.8 million).
View Source
Warburg, Kedaara line up benchmark-beating PE exit move
VCCircle
ยท
1y ago
Medial
Warburg Pincus and Kedaara, private equity firms, are expected to achieve impressive returns from their latest investment in India. Warburg Pincus, having completed several successful liquidity moves and generating $850 million from a previous portfolio company, is poised for another profitable exit. The firms are making a significant impact in the Indian market and are set to continue their successful streak.
View Source
IPO-Bound MobiKwik Raises INR 50 Cr Debt Funding From BlackSoil
Inc42
ยท
1y ago
Medial
IPO-bound fintech startup MobiKwik has secured INR 50 crore (approximately $6 million) in debt funding from BlackSoil. The funding will be raised through the issuance of 800 non-convertible debentures at an annual interest rate of 15%. This comes after MobiKwik secured INR 10 crore in a term loan from CredAble earlier this year. The company has filed its draft red herring prospectus (DRHP) with SEBI and aims to raise up to INR 700 crore through an IPO. MobiKwik turned profitable in the first half of FY24, reporting a net profit of INR 9.5 crore.
View Source
Trackers
Active Indian VCโs
OG Capital
Email
With a hands-on approach, OG Capital aims to invest in over 20 promising...
Accel Partners
Email
Early and growth-stage investments in disruptive technology companies with...
Blume
Email
Early-stage venture capital firm investing in technology startups in India. Focus on...
Access All Trackers
Startup Showcase Winners
June 2025
Buddy
Helping your parents when you are miles away
BiteStop
The Pit Stop Your Cravings Deserve
Bloomer
The next generation E-commerce platform
Enter Ongoing Startup Showcase
Top Users
Trending News on Medial
Download the medial app to read full posts, comements and news.
Go to Medial App
Not Now
Know everything thatโs happening in the startup ecosystem, first.
Enable Notifications?
No, thanks
Count me in