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Mobikwik Is All Set To Hire 1000 Staff

Sushant Deshpande

    Mobikwik

Mobikwik is ready to grow as a digital e-wallet company by focusing on entering new cities in India. Mobikwik is all set to hire close to 1000 employees and expected to grow in thirteen different cities in India. They are keen on implementing this plan by the end of December 2017 and there would be many new employees hired by the company to manage its expanding business a report from Indiatimes said.

Vineet K Singh, who is the Chief Business Officer at Mobikwik said, “A company needs to grow in order to overcome the stiff competition from other players. With this strategic decision of expanding our business in thirteen new cities, we are likely to grow in the digital e-wallets segment and compete with other companies such as Paytm and Freecharge. By the end of the year 2017, we will target to reach out to users from 50 different cities of our country”.

The Chief Business Officer also continued saying, “. After the launch of the BHIM app by our Prime Minister Narendra Modi, which uses the biometric for receiving Aadhar enabled payments by getting the debit pin numbers, card numbers and passwords. Mobikwik is all set to achieve $10 billion mark in the coming months. The main aim is not to have a competition with anybody. We are focusing on being a one-stop payment gateway and a mobile e-wallet company by introducing new products”. 

Mobikwik is concentrating on expanding its reach in Eastern Indian markets and is planning to achieve a gross merchandise value of $1 billion only from West Bengal by the end of the year 2017. There are close to one lakh merchants from this region. The main objective is to achieve great growth from these areas.

The company is keen on spending Rs 300 Crore in 2017 to acquire new customers and merchants. Mobikwik currently got an $85 million funding. The Mobikwik’s co-founder Upasana Taku said, “The aim is to increase the number of users to150 million in 2017. The investment is mainly on having loyalty programs and expansions of growth and network to increase customer reach.

In addition, Mobikwik also desires to achieve a valuation of more than $1 billion and in order to achieve this mark, it is going to launch SUPERCASH, an initiative to promote digital payments among the customers. It has 14 lakh merchants with a massive 50 million users.

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