MobiKwik Statistics By Revenue, Financials, Marketing, Website Traffic And Usage
Maitrayee Dey
Updated · Nov 29, 2024
WHAT WE HAVE ON THIS PAGE
Introduction
MobiKwik Statistics: MobiKwik is one of India’s leading financial technology firms, which was built to offer digital payment solutions as well as other financial services. For FY24, the company has recorded significant milestones in growth and financial health. The company MobiKwik employs around 325 people and mainly operates in three key business areas: fintech, consumer payments, and payment gateways.
We go on to see the most important MobiKwik statistics and trends so that one can understand the growth and widespread usage of the payment platform across the nation.
Editor’s Choice
- An Indian digital payment and fintech company founded in 2009 recorded ₹5.6 billion in revenue for itself during the fiscal year 2023.
- According to MobiKwik statistics, whose profit stood at ₹14.1 crore in FY24, the company managed to recover from a net loss of ₹83.19 crore for the last fiscal year owing to vigorous business activity.
- In FY24, operational revenue increased 62% to ₹875 crore from ₹539.5 crore in FY23. Other incomes shared their portion in the total income, which grew 59% to ₹890.3 crore.
- MobiKwik recorded its second successive quarter of profitability in Q1 FY24, from an adjusted EBITDA of ₹13.6 crore, increasing 181% YoY. Revenue is Rs.177 crore for Q1 FY24, reflecting a 68% YoY growth and a 10% sequential growth from Q4 FY23.
- MobiKwik statistics state that MobiKwik expects revenue from ₹1,100 crore with net profits of ₹40-50 crore in FY24, predominantly from its lending business.
- 47.71% of the total desktop traffic of MobiKwik.com visits was direct visits last month, substantiating strong brand recall.
- Organic search accounted for 40.43% of traffic, while underutilized email marketing at 0.02%.
- MobiKwik statistics show that MobiKwik users are in the age group of 25-34 years (39.51%) followed by 18-24 years (20.11%); 35-44 years constitute the next age group, which is approximately 14.91%.
- MobiKwik, as of September 2023, had 146.94 million registered users and 3.81 million merchants.
- Among the competitors, MobiKwik has emerged on top for digital loan dispersing, carrying a huge 74% of users from Tier 3+ cities while the same averages only at 40% across the industry.
- Their financial products include Fixed Deposits, offering returns of up to 9.5% for tenures ranging from 7 days to 60 months.
- MobiKwik suffered losses to the tune of ₹1,113 million, ₹1,281.62 million, and ₹838.14 million in FY21, FY22, and FY23, respectively, and emerged bright with profits worth ₹94.78 million in the initial half of FY24.
- MobiKwik statistics reveal that in 2013, the Reserve Bank of India approved the use of the MobiKwik wallet. According to MobiKwik statistics, the platform has over 10 million registered users.
- As of 2021, around 3.45 million merchants throughout the country relied on services offered by MobiKwik.
- The company saw fantastic growth in FY 2022, which crossed a revenue milestone of ₹5.25 billion.
- The income from the other stream of revenue, noncurrent investments, increased by 22% to touch the figure of ₹16.6 crore during the same financial year.
- MobiKwik put a stop to its e-wallet services on all major cryptocurrency exchanges in India beginning in April 2022.
- MobiKwik statistics indicate that it partnered with about 140 billers in 2020 and recorded about 1 million transactions a day in 2019.
- The payment gateway segment constituted the biggest cost center during FY 2022, accounting for 34% of the total cost.
- Apart from digital payments, MobiKwik also caters to its clients with a wide range of financial services, such as instant loans, gold purchases, mutual fund investments, and insurance schemes.
MobiKwik Revenue
(Reference: statista.com)
- MobiKwik statistics reveal that during the fiscal year 2023, an Indian digital payment and fintech company, which was founded back in 2009, received ₹5.6 billion in revenue for itself.
- Compared to the last fiscal year, it was a minor growth in revenues.
- The company continues to strengthen its foothold in the digital payments sphere, enhancing its wallet and financial services for consistent performance.
MobiKwik Financials
(Source: enterpriseappstoday.com)
- MobiKwik provides financial guarantees for consumer loans on its Buy Now, Pay Later platform apart from related expenses.
- These costs increased by a whopping 57% to ₹91 crore during fiscal 2022. Zip has an active user pool of 2.8 million and boasts over 25 million pre-approved consumers, as per recent statistics on MobiKwik’s BNPL product.
- MobiKwik statistics state that the total expenditure of the company soared to ₹665 crore for FY 2022 as compared to 61.4% a year ago.
- Under Bipin Preet Singh and Upasana Taku, the amount allocated by MobiKwik towards legal professional fees was ₹19 crore, while the amount towards lending operational costs stood at ₹18 crore, thereby contributing to the overall increase in expenses.
MobiKwik Profit
(Source: inc42.com)
- Fintech unicorn MobiKwik recorded profit in the financial year 2023-24 (FY24) of ₹14.1 crore.
- MobiKwik statistics show that the profit was driven by compelling business growth and a net loss of ₹83.19 crore in the previous fiscal year.
- For the first financial year FY24, the fintech startup reported operational revenue of ₹875 crore, which represents an increase over the prior year of 62% from a previous year’s revenue of ₹539.5 crore.
- MobiKwik started its journey in 2009, under the stewardship of Bipin Preet Singh and Upasana Taku, and has been a digital banking platform.
- Apart from online payment methods, the service pertains to financial products for consumers as well as merchants.
- Revenue structures include service across online checkout, Kwik QR scan and pay, MobiKwik Vibe (Soundbox), MobiKwik EDC Machine, and merchant cash advances. With other income considered, total income rose by 59% to ₹890.3 crore in FY24 compared to FY23’s ₹561.1 crore.
MobiKwik Payment Revenue
(Source: inc42.com)
- MobiKwik had a downsized wallet proportion- 45%- from its largely 80% contribution recorded in March 2021, down to about such between the years 2020 and last year.
- This reduction suggests that merchants are gradually moving to other payment gateways and related services away from MobiKwik, largely due to the increasing dominance of UPI-first players such as PhonePe, Google Pay, Paytm, and CRED.
Short-Term vs. Long-Term Financials
- The recent financial results for MobiKwik posted Q1 FY24 as its second consecutive quarter of profits.
- In the financial statement according to the Federal Fiscal Year viewed at the end of the reporting period, an adjusted EBITDA of ₹13.6 crore was reported for Q1 FY24, which is a whopping 181% increase YoY.
- MobiKwik statistics show that revenue grew sequentially by just over 10%, rising from ₹160 crore in Q4 FY23.
- The contribution margin has also seen a very large year-on-year increase of 108% at ₹73.9 crore between Q1 FY23 and Q1 FY24.
- However, over the past few years, the financial performance of MobiKwik has been mixed; for instance, FY21 revenue was down 18% over FY20 as this pandemic disrupted the operations of almost the entire fintech sector.
- FY22, however, saw a very rapid turnaround as MobiKwik expanded its lending business on the backbone of increased demand for credit services. This enabled it to cut costs and help narrow profitability.
- In FY23, growth was not as rapid but would have improved profit margins because of the overhead reductions of MobiKwik over FY22.
- Now, the company expects to earn revenues of ₹1,100 crore with net profits of between ₹40 crore and ₹50 crore from FY24 onwards. This is almost a doubling of growth over the current fiscal, much of which will come from the lending business.
MobiKwik Marketing Channels Distribution
(Reference: similarweb.com)
- The majority of the traffic sources are Direct: Mobikwik.com received 47.71% of desktop visits last month. This means a great percentage of users reach this site directly by typing the URL into their browser, bookmarking it, or referring through the mobile application, which means that the brand reputation is already solidly positioned in users’ minds.
- Organic Search comes next as a contributor to traffic, accounting for 40.43% of total traffic. It shows how effective MobiKwik has been in using its SEO, which enables users to discover the site through free results from search engines while searching for similar products or services.
- However, mail is the least utilized, with just 0.02%. This denotes the full exploitation of email marketing as a means of directing traffic; hence, it can be considered as a potential for MobiKwik to widen its reach and engage better prospects with existing customers.
- Referrals, social, and display also have lesser percentages: 5.91%, 0.26%, and 0.05%, respectively.
MobiKwik Usage By Demographics
(Reference: similarweb.com)
- According to MobiKwik statistics, users belonging to the age group of 25 to 34 years represent the maximum share, at about 39.51%. Thus, young adults who are relatively tech-savvy and financially active are the primary users of MobiKwik’s services.
- 18-24 years With 20.11% of users, this segment reflects a significant portion of younger individuals, possibly students or early-career professionals adopting digital payment solutions.
- The age group of 35-44 years makes up 14.91% of the user base, showing a fair amount of engagement with middle-aged users who are most likely using the platform for personal and professional financial needs.
- 45-54 years Adopting 9.58%, this age bracket has moderate use, likely for simple paying of utilities or small-business types.
MobiKwik Website Traffic By Country
(Reference: semrush.com)
- Discover the global distribution of visitors to your competitor’s website and start dominating the under-tapped markets.
- MobiKwik statistics indicate that 94.46% of the core audience is within India, with 15.31% Desktop traffic users and 84.69% mobile-connected users.
- The UAE comes in next, followed by 17.34K all devices traffic.
- Malaysia has close to 10.2K all device traffic to report. The US and Philippines have 9.72K and 7.39K, respectively, of which 89.19% comes from the desktop and 10.81 from the mobile segment.
- In the case of the Philippines, it has a total traffic of 7.38% from desktops and 92.62% from mobile devices.
MobiKwik Growth And Offerings
- As of September 2023, MobiKwik’s payments business boasted close to 146.94 million registered users and 3.81 million merchants.
- In FY 2023, the company stated that it had the fourth-largest user base in India, following PhonePe (500 million users), Paytm (300 million users), and Airtel Payments Bank (155 million users).
- MobiKwik statistics stated that “it led the market in disbursing digital loans in tier 3+ cities, where 74% of its borrowers are located, an impressive number compared to the industry average of 40%.”
- MobiKwik also introduced state-of-the-art financial products, like Fixed Deposits, which allow investing as little as ₹1,000 and earning returns of up to 9.5% annually without the necessity of a new bank account for the user.
- The tenure varies from 7 days to 60 months, with early withdrawal options depending on issuer terms.
- The company provides credit limits, which can be from ₹1,000 to ₹60,000, for eligible customers through lending partners, including banks and NBFCs.
- Its ZIP EMI service is for customers requesting loans of between ₹10,000 and ₹200,000, which can be paid back in 3 to 24 equal installments.
- The interest rates on ZIP EMI loans are generally from 18% to 36%. MobiKwik losses were ₹1,113 million, ₹1,281.62 million, and ₹838.14 million debt.
- However, the company was profitable during the first six months ending in September 2023, with a profit of ₹94.78 million during that period.
- Income for the six months was recorded at ₹3,873.73 million, of which ₹2,439.53 million was made from financial services and ₹1,371.35 million from payment services.
Conclusion
MobiKwik statistics performance in FY24 in terms of the financial aspect exhibits a successful turning point for profitability and revenue growth in MobiKwik. The company still looks centered on widening user use and increasing merchants’ involvement, as well as diversifying its financial services portfolio to make it a strong contender within the fintech landscape of India.
Maitrayee Dey
Maitrayee, after completing her graduation in Electrical Engineering, transitioned into the world of writing following a series of technical roles. She specializes in technology and Artificial Intelligence, bringing her experience as an Academic Research Analyst and Freelance Writer, with a focus on education and healthcare under the Australian system. From an early age, writing and painting have been her passions, leading her to pursue a full-time career in writing. In addition to her professional endeavors, Maitrayee also manages a YouTube channel dedicated to cooking.
