MobiKwik
- 🦄Became a unicorn2021
- 📈Peak valuation$1 Billion ’21
- 💔Became a Unitard2024
- 💸Last valuation~$180M
How it happened
MobiKwik is an Indian digital-payments and financial-services app offering a mobile wallet, UPI payments and buy-now-pay-later credit. Backed by Peak XV (Sequoia India), Bajaj Finance and American Express, it crossed the $1B 'unicorn' mark in 2021 and filed for an IPO targeting a valuation around $1.7B — only to shelve it as markets turned. When MobiKwik finally went public on the NSE and BSE in December 2024, it did so at a drastically reduced ~$256M valuation; after an initial listing pop the stock drifted down to roughly $0.2B by 2026, leaving it far below its former unicorn status.
Source: Inc42 / Business Standard / The Arc (Indian digital-payments and BNPL fintech backed by Peak XV/Sequoia, Bajaj Finance and American Express; reached the $1B 'unicorn' club in October 2021 and shelved a planned IPO; finally listed in December 2024 at only ~$256M, far below unicorn status, and trades around $0.2B in 2026)
