Payment service provider MobiKwik raises debt from Karnation

Gurugram-headquartered payment services provider MobiKwik has raised INR 55 crore in debt funding since August. While it had raised funding earlier from BlackSoil, it has recently tapped Bengaluru-based Karnation for additional debt. The company's last equity fundraise was in June 2021 - from Abu Dhabi Investment Authority, which had valued the fintech company at USD 720-750 million.