IPO MobiKwik | Meet Upasana Taku, the force behind one of India's leading digital payment platforms bracing for Rs700-crore listing

Upasana Taku, a visionary in fintech, co-founded MobiKwik, one of India’s largest mobile wallet and digital payments companies. Driven by her mission to simplify financial inclusion for millions, MobiKwik was founded in 2009 to enable quick, easy, and mobile-based transactions. Today, it is a frontrunner in transforming India’s payments landscape.

MobiKwik is the only profitable fintech to be hitting the public markets this year.

Upasana is among the few female co-founders in India’s fintech sector, inspiring aspiring women entrepreneurs in a male-dominated industry.

It is the only female co-founded fintech sector company to go public amid a rush of tech IPOs in India. Promoters are the largest shareholders in the company.

Born in Gandhidham, Gujarat, to a Kashmiri family, Upasana graduated from Stanford University with a Master's Degree in Management Science and Engineering.

She left a high-paying job in the U.S., at PayPal, where she developed her expertise in payments technology and gave up her green card to return to India and create an impact at the grassroots level.

After returning, in November 2008, she joined Drishtee, a small NGO in Delhi - Drishtee - that focused on rural Business Process Outsourcing (BPO) and microfinance. It was here that she got a chance to travel to rural areas in the northern states of Uttar Pradesh and Bihar, witnessing the significant work done by the NGO in India.

In December 2008, her path crossed with Bipin Preet Singh, through common friends. He was working with a Noida-based semiconductor company then, and together, they shared a vision for a mobile wallet platform.

Started as a website, MobiKwik was founded by Bipin Preet Singh and Upasana Taku in August 2009.

Later in 2012, Upasana launched Zaakpay, a digital payment gateway for e-commerce businesses.

The company became profitable in the financial year 2023-24. It recorded a Profit After Tax (PAT) of ₹14.08 crore, a remarkable turnaround from the ₹83.81 crore loss it reported in FY23.

MobiKwik has now filed papers to raise ₹700 crore via an initial public offering.

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