Here’s how Founder Upasana Taku Drove MobiKwik to Success

Upasana co-founded MobiKwik in 2009 with the goal of streamlining payments in India. Her current goal is to join the MobiKwik payments network with a million merchants. Upasana has extensive experience in the payments industry. Prior to joining PayPal in Silicon Valley as a senior product manager, the lady worked for HSBC in San Diego, California.

In this article, we will discuss the remarkable journey of Upasana Taku who revolutionised & transformed the Fintech industry and drove MobiKwik to success:

Upasana Taku’s early life and education

Taku finished secondary school in Surat before enrolling at the prestigious National Institute of Technology, Jalandhar, to pursue an engineering degree. After earning an engineering degree in industrial engineering from the university, She graduated from Stanford University in the US with a Master of Science in Management Science and Engineering.

Upasana Taku was hired by HSBC in San Diego because of her credentials and training. Taku performed admirably in her role there. She was successful in a variety of fields, including outreach, market research, forecasting, and marketing. At a period when influential businesses were influencing change in American commerce, she joined PayPal.

While working for PayPal, she obtained expertise in the payment systems across the Americas, Europe, and Asia. She also gained knowledge of user experience, design, risk assessment, and fraud management.

The undeniable growth of MobiKwik

The team’s expansion was incredibly sluggish, starting with only six members in 2011. Their primary source of income was the home-office sector. Even on their wedding day, Taku and Bipin Preet had to report to work for the organisation! In 2011, they leased a first office with five rooms.

They grew astonishingly quickly, and by June 2012, they had a staff of 35. In September 2012, the team applied for an RBI PPI licence; in July 2013, they were approved.

The remarkable funding of MobiKwik

• The business moved to a bigger site in Udyog Vihar, Gurgaon, with 50 employees after receiving $5 million in its initial round of finance.

• A second round of $25 million in funding was obtained for them in 2015 from Sequoia Capital, American Express, Tree Line Asia, and Cisco Investments.

• Taku’s company received its third round of funding in 2016. This time, a minimum of $50 million was raised by Net1, the GMO payment gateway, Mediatek, Sequoia Capital, and TreeLine Asia. This was a huge success for the company because it helped them become well-known throughout the industry.

Here’s how Upasana Taku completely transformed the Fintech Industry

Upasana Taku’s Mobikwik is very straightforward and focuses on necessities. After a few years, it soon overtook their basic business model of being a recharge platform to become the top mobile wallet in the country. At a time when most people still relied on real cash for tiny amounts like Rs. 10, Taku revolutionised the market by presenting the concept of a physical wallet to a wide audience.

Because of Taku’s efforts, today’s millennials may easily recharge their devices without ever having to visit a store; all they need to do is use an app. Mobikwik’s corporate growth has recently been remarkable. When the company employed its first worker in 2010, the team found it challenging to find someone with the same goal as to serving the community.

Even though the country has seen a growth in e-commerce transactions, delayed payment gateways have been one of the major obstacles to growing businesses.

Here are the key takeaways from Upasana Taku’s success credo

Taku’s credo, “Kick up a storm or die trying,” has helped her focus during difficult circumstances. Perseverance, in her opinion, is crucial. Consequently, as a result of her commitment to supporting the startup community and her perseverance, she has emerged as a role model for many aspiring business owners.