MobiKwik says it's on course to achieve Rs 1,000cr GMV, to set up offices in 13 Indian cities

On Thursday, Indian payments company MobiKwik revealed its expansion strategy by announcing that it is setting up offices across 13 cities by the end of the first quarter of 2017. Further, the company said that it expects to hire over 1,000 employees across centres to drive its business growth.

The cities where MobiKwik will be expanding its footprint are Mumbai, Pune, Bengaluru, Kolkata, Hyderabad, Chennai, Ahmedabad, Noida, Lucknow, Vijayawada, Kochi, Jaipur, and Chandigarh.

Speaking to YourStory, Upasana Taku, Co-founder, MobiKwik, said,

With demonetisation coming in, payments have now become mass. And with demand growing so rapidly, we felt the need to set up these offices. To give you perspective, individuals from our sales team have travelled to 12 cities in 25 days on an average, hence it only makes sense to institutionalise this demand through setting up offices in these cities.

According to Upasana, the firm will be investing over Rs 50 crore in setting up new offices to cater to regional requirements and will be hiring over 1,000 employees, pan India, across technical and non-technical requirements.

She also adds that the firm has seen unprecedented growth and is line with the vision to achieve Rs 1,000 crore GMV in 2017.

Over the past two months, the company claims to have added close to nine lakh merchants and one crore users.

It also recently announced receiving the Bharat Bill Payment System that enables the company to become a one-stop destination for pan-India utility and convenience bill payments across sectors. At present, MobiKwik claims to have a network of over 10 lakh merchants and 45 million users.

Just last month, MobiKwik’s biggest competitor Paytm announced opening an office in Visakhapatnam, while adding close to 1,000 offline agents to its Andhra Pradesh and Telangana team.