InvestorQ : Is it true that ADIA is taking a stake in MobiKwik?
Debbie Mascarenhas made post

Is it true that ADIA is taking a stake in MobiKwik?

Rutuja Nigam answered.
11 months ago

In the latest investment in the Indian Fintech space, the formidable Abu Dhabi Investment Authority, one of the world’s top sovereign funds, is picking a minority stake in MobiKwik. The stake sale is worth $20 million and this values the company at an enterprise valuation of $700 million. ADIA has been one of the very active investors in the Indian equity market has of late has been active in the start-up space too.

MobiKwik is one of the major Fintech and digital payment players in India and competes with the likes of Paytm, Google Pay and Phone Pe for mind share and wallet share. However, in recent times, MobiKwik had been in the news for the wrong reasons after data of 10 million customers were recently compromised in a massive data theft. MobiKwik serves over 107 million users through its wide all-India network.