Private Equity Fund Investments
Digital payments platform MobiKwik raises $20-M from ADIA
Gurugram-based digital payments platform MobiKwik has raised USD 20 million from sovereign wealth fund Abu Dhabi Investment Authority (ADIA). MobiKwik's board has approved the allotment of 83,165 Series G preference shares and one equity share at the price share of INR 17,916 per share to ADIA to raise INR 149 crore (USD 20 million). ADIA has now acquired a 2.78% stake in MobiKwik. The collective stake of the co-founders of the company has been diluted to 33.2%. As of March 2021, both held a collective stake of 34.96% in the company. MobiKwik has raised the fresh money at a post-money valuation of INR 5,365 crore (USD 736 million). This is a 47% jump, compared to April, when it raised USD 5 million from a clutch of investors at an estimated valuation of USD 500 million. MobiKwik is expected to file its draft prospectus by May and go IPO by September.
From the Venture Intelligence PE-VC Deal Database: Starting in 2014, Mobikwik has attracted about USD 100 million GMO Venture Partners, MediaTek, Tree Line Asia Master Fund, Sequoia Capital India, Orios VP, Kris Gopalakrishnan, Amex Ventures, Cisco, Trifecta Capital and Bajaj Finance. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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