MUMBAI (Reuters) - Payment services provider Net1 UEPS Technologies Inc will invest up to $40 million in Indian mobile wallet services provider MobiKwik over the next 24 months, the companies said in a joint statement on Friday.
MobiKwik had previously raised three rounds of funding from investors including Sequoia Capital, American Express (NYSE:AXP), MediaTeK and Cisco Investments, according to the statement.