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MobiKwik hit by Rs 40 Cr fraud in Haryana; recovers Rs 14 Cr so far

EntrackrEntrackr · 23h ago
MobiKwik hit by Rs 40 Cr fraud in Haryana; recovers Rs 14 Cr so far
Medial

MobiKwik hit by Rs 40 Cr fraud in Haryana; recovers Rs 14 Cr so far Digital financial services firm MobiKwik has reported a fraud incident involving some of its registered merchants and users from Haryana, who allegedly colluded to claim unauthorized settlements from the company. The company disclosed in a stock exchange filing that the incident occurred between September 11–12, 2025, and an FIR has been lodged for Rs 40 crore. Of this, Rs 14 crore has already been recovered, leaving an estimated net exposure of Rs 26 crore. MobiKwik clarified that none of its employees, key managerial personnel, or insiders were involved in the case. Authorities have already made arrests, and the Legal Enforcement Agency has frozen and lien-marked bank accounts where the unauthorized funds were credited. The Gurugram-headquartered firm said it is taking “aggressive collection efforts” alongside legal action to recover the remaining amount. It added that further material developments will be shared with the exchanges as the police investigation and recovery efforts continue. MobiKwik’s operating revenue fell 21% to Rs 271 crore in Q1 FY26 from Rs 342 crore in Q1 FY25, meanwhile the company’s losses rose over 6X to Rs 42 crore in Q1 FY26 in the same quarter last year.

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MobiKwik posts Rs 269 Cr revenue and Rs 55 Cr loss in Q3 FY25

EntrackrEntrackr · 7m ago
MobiKwik posts Rs 269 Cr revenue and Rs 55 Cr loss in Q3 FY25
Medial

MobiKwik posts Rs 269 Cr revenue and Rs 55 Cr loss in Q3 FY25 Fintech platform MobiKwik reported its quarterly results for the third quarter of the ongoing fiscal year (Q3 FY25) on the stock exchange today, reflecting a 17.5% year-on-year growth. MobiKwik’s revenue from operations increased to Rs 269 crore in Q3 FY25 from Rs 229 crore in Q3 FY24, its consolidated financial statements accessed from the National Stock Exchange (NSE) show. However, Mobikwik's earnings were reduced by 7.6% in Q3 FY25, compared to Rs 291 crore in Q2 FY25. MobiKwik's primary revenue sources in Q3 FY25 were commissions on recharges, processing, and interest on servicing loans, payment gateways, and technology platforms. However, the company did not provide an income breakdown in its quarterly report. Notably, Mobikwik's payment business grew 166% in Q3 FY25 to Rs 196.5 crore. According to the press release, MobiKwik's registered user base has grown to 167 million with 5 million merchants. The company’s payment of GMV has also increased by 2X year-on-year to Rs 29,400 crore. On the cost side, expenditures on the payment gateway were the largest cost center, accounting for 45.4% of the overall cost, which stood at Rs 144 crore in Q3 FY25. The cost of employee benefits and lending fees was recorded at Rs 44 crore and Rs 25 crore, respectively. Its financial guarantee, legal, advertising, finance, and other overheads took its total expenditure up by 44.1% to Rs 317 crore in Q3 FY25 from Rs 220 crore in Q3 FY24. In the end, Mobikwik reported a net loss of Rs 55.2 crore in Q3FY25, compared to a profit of Rs 5.1 crore in the same quarter of the previous fiscal year. During the first nine months of the ongoing fiscal year, its bottom line is negative at Rs 65.4 crore. Mobikwik made its debut on the stock exchange last Dec 24 with an impressive 59% premium on its issue price on the first day of its listing. The company is currently trading at Rs 406.75 (as of 14:25) with a total market capitalization of Rs 3,160 crore or (approximately $376 million).

MobiKwik posts Rs 875 Cr revenue and Rs 14 Cr profit in FY24

EntrackrEntrackr · 1y ago
MobiKwik posts Rs 875 Cr revenue and Rs 14 Cr profit in FY24
Medial

IPO bound MobiKwik made a strong comeback in the fiscal year ending March 2024, with its revenue surging by over 62%. The fintech firm also achieved profitability during FY24, recovering from an Rs 84 crore loss in FY23. That should do no harm at all to its IPO prospects. MobiKwik’s revenue from operations grew to Rs 875 crore in FY24 from Rs 539 crore in FY23, its consolidated annual financial results sourced from the Registrar of Companies (RoC) shows. Income from the commission on recharge, processing, and interest income on servicing loans, payment gateways, and technologies platforms were the primary sources of revenue for MobiKwik in FY24. In the last fiscal year (FY24), the company expanded its loan offerings through lending partners, resulting in a 3X increase in its lending operational cost to Rs 270 crore as compared to Rs 69 crore in FY23. Its payment gateway also grew 18.4% to Rs 201 crore in FY24. The employee benefits, legal, advertising cum promotional, technology and other overheads pushed the total cost up by 36.4% to Rs 876 crore in FY24 from Rs 642 crore in FY23. See TheKredible for the detailed expense breakup. More than 60% jump in scale and controlled expenditure led MobiKwik to turn black with Rs 14 crore in the last fiscal year as compared to Rs 84 crore loss in FY23. Its ROCE and EBITDA margins improved to 15.21% and 4.16% respectively. On a unit level, it spent Rs 1 to earn a rupee in FY24. In January this year, MobiKwik filed its draft red herring prospectus (DRHP) with the market regulator SEBI to raise Rs 700 crore from its IPO. The firm also reported profitability during the first half of FY24 with Rs 9.5 crore PAT and an operating revenue of Rs 381 crore. This is the second attempt by MobiKwik to go public as the Gurugram-based firm filed its first DRHP in July 2021. However, the firm later abandoned public listing citing weak market conditions. It’s worth highlighting that the firm is looking to raise less than half of what it aimed at from the previous attempt to go public. After filing DRHP, the company also raised Rs 50 crore ($6 million) in debt from BlackSoil Capital. After being overshadowed by Paytm and its storied investors, MobiKwik has done well to achieve profitability well before Paytm is expected to. The firm has often looked to plough a lonely path, sticking to its core offerings even as peers ventured into multiple segments. Now, it has the benefit of legacy as well as a strong balance sheet to build on, something it seems well prepared for, as the founders remain committed to the firm’s future as well. With an IPO finally in sight, the small debt fund raise can also be seen as a sign of confidence and conviction in going through with the IPO process this time.

Artha Select Fund closes at Rs 432 Cr; AUM crosses Rs 1,200 Cr

EntrackrEntrackr · 1m ago
Artha Select Fund closes at Rs 432 Cr; AUM crosses Rs 1,200 Cr
Medial

Artha India Ventures (AIV) has closed its follow-on fund, Artha Select Fund (ASF), at Rs 432 crore, 131% above its Rs 330 crore target. With this, Artha’s total Assets Under Management have crossed Rs 1,200 crore. ASF will invest in the top 15% of performers from Artha’s existing portfolio of over 135 companies across Artha Venture Fund I, Artha Continuum Fund, and the soon-to-launch AVF II. The fund will write Series B and C cheques of around Rs 20 crore each, for 12–14 winners over the next four years. With 33 exits to date, Artha claims to have built a proven track record of identifying and nurturing category leaders. ASF creates a capital bridge from early-stage to growth, addressing India’s “missing middle” funding gap where many Series A–C companies stall due to limited capital and a lack of operational support. According to Artha, Indian family offices and ultra-high-net-worth individuals anchor 80% of the fund’s capital, with the remaining 20% from global LPs in Singapore, UAE, Mauritius, Hong Kong, Africa, and the U.S. Sponsor AIV has committed nearly 10% of the fund. ASF’s roster of backers includes household names such as Atul Kirloskar’s Family Office, DSP Family Office, Shahi Exports, HIRA Group, and Anikarth Ventures. “ASF allows us to stay invested in our most promising companies well into their scale-up phases,” said Anirudh A. Damani, Managing Partner of Artha Venture Fund & Artha Select Fund. “India has no shortage of promising ventures, but far too many face a capital drought between Series A and C. ASF ensures our winners have the firepower, strategic guidance, and operational backing to compete globally while preserving founder ownership and focus.” Artha, through its various funds, has backed startups such as OYO, Rapido, Purplle and Leverage Edu. Under the new fund, it has so far evaluated six companies and selected only spacetech startup Agnikul Cosmos, with an investment commitment of Rs 20–40 crore.

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