Mobikwik raised Series E round from Hindustan media ventures

Mobikwik has raised ₹41.5 crore as a piece of its Series E round from Hindustan Media Ventures. The new proceeds for the organization have come following 16 months. It raised ₹8.7 crore from NDTV and Trifecta in July 2019.

Mobikwik has distributed 41,375 Series E CCPS at an issue cost of ₹10,030 for each offer to raise the whole, administrative recording shows. The Gurugram-based firm is probably going to collect more cash in this round.

Earlier, Mobikwik had raised ₹8.74 crore from New Delhi Television Ltd (NDTV) and Trifecta Capital in July 2019, ₹24 crore from Sequoia Capital in December 2018 and made sure about ₹225 crore from Bajaj Finserv (NBFC) in 2017.

It’s significant that the organization had recorded archives with the controller for bringing ₹223 crore up in March this year from Cayman Island-based L.P. named MK SPV IX. Be that as it may, the cash is yet to hit Mobikwik’s record.

According to Fintrackr’s assessments, Mobikwik’s pre-cash valuation before the most recent tranche is anyplace between ₹2,575-2,650 crore.