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Net1 to invest up to $40 million in India's MobiKwik over 2 years

Published 08/26/2016, 05:00 AM
© Reuters.  Net1 to invest up to $40 million in India's MobiKwik over 2 years
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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.

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