Foreign funds pour into India’s Mobikwik

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Japanese payment gateway GMO and Taiwan’s semiconductor company MediaTek have led a US$50 million round of funding for India’s mobile payment company MobiKwik. Sequoia Capital and hedge fund Treeline Asia, existing investors in MobiKwik, also took part in this round.

MobikwikMobiKwik issues pre-paid mobile wallets and digital pre-paid payment services for shopping, mobile recharge, direct-to-home recharge, money transfers and bill payments.

Partner Gautam Saha and senior associate Dushyant Bagga at AZB & Partners advised Tree Line Asia on the deal.

Themis Associates advised Sequoia Capital. Shardul Amarchand Mangaldas & Co acted for GMO and MediaTek.