New fund raise to value MobiKwik at $1 billion, says CEO

MobiKwik is in talks to raise fresh funding in the next two to three months which will value the startup at $1 billion, CEO Bipin Preet Singh said on Wednesday. Founded in 2009, MobiKwik has raised about $80 million in funding from investors including Sequoia Capital and Taiwan’s MediaTek. MobiKwik's rival Paytm hit $1 billion valuation mark in 2015.