Mobikwik,the Gurgaon based mobile wallet firm, expects to change  profitable by mid in the year 2017 and also plans to diversify revenue streams by providing financial products like mutual funds and loans, as per the senior executive

Bipin Preet Singh said, "We are looking at diversifying our revenue streams and our first goal is to be profitable on a monthly basis by middle of 2017," 

He further added, “MobiKwik is partnering with non-banking finance companies (NBFCs) to offer micro-lending to its users, and is also looking at launching a mutual fund portfolio going forward”

Singh aforesaid, “The company is also focussing on the offline category, and is looking to expand the merchants on board from 50,000 currently to nearly five million by next year,”

According to the recent customer acquisition that Mobikwik claims 30 million and expecting  to double this to about 70 millions in 2017.

Preet indicated that "strong offerings to support the ecosystem, through digitalisation."

The company hiked $25 million (roughly Rs. 166 crores) via Series B funding from Tree Line Asia, Cisco Investment, American Express and Sequoia Capital among its investors, last April and is recently well funded, Bipin added.