Bipin Preet Singh: MobiKwik’s Founder and Tech Pioneer
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Bipin Preet Singh, a visionary entrepreneur and the force behind MobiKwik, is a key player in the ever-changing world of financial technology. As the Managing Director, Co-Founder, and CEO of MobiKwik, Bipin has been crucial in transforming how India handles transactions, manages money, and adopts digital payments. His journey is a clear example of how determination, creativity, and a commitment to excellence can bring about significant change.
Bipin's deep understanding of the evolving needs of the digital economy has guided MobiKwik to become a major player in the fintech industry. His leadership style, combining strategic foresight with hands-on involvement, has not only led MobiKwik to success but has also left a lasting impact on India's fintech landscape.
Bipin’s role as the Managing Director, Co-Founder, and CEO of MobiKwik, along with being a Co-founder at ZaakPay, reflects his unwavering dedication to transforming India's financial scene through innovation and inclusivity. His entrepreneurial spirit, along with a forward-thinking approach, has not only positioned MobiKwik at the forefront of the fintech industry but has also established him as a leader and influencer in the broader business community. As India embraces the digital revolution, Bipin's vision and leadership are set to play a crucial role in shaping the future of financial technology in the country.
Exclusive chat with Bipin Preet Singh, Co-founder & CEO, Mobikwik
Bipin Preet Singh – Biography
| Name | Bipin Preet Singh |
|---|---|
| Born | 16 June 1980 |
| Nationality | Indian |
| Education | B.tech in Electrical Engineering, IIT Delhi |
| Position | Managing Director, Co-founder, and CEO of MobiKwik |
Bipin Preet Singh - Personal Life
Bipin Preet Singh - Early Life
Bipin Preet Singh - Career
Bipin Preet Singh - MobiKwik
Bipin Preet Singh - Controversies
Bipin Preet Singh - Achievements and Recognitions
Bipin Preet Singh - Personal Life
Bipin was born on 16 June 1980. He is married to Upasana Taku.
Bipin Preet Singh - Early Life
Bipin Preet Singh embarked on his professional journey by earning a B Tech in Electrical Engineering from the prestigious Indian Institute of Technology, Delhi, spanning from 1998 to 2002. In the initial phase of his career, he served as a Senior Design Engineer at Intel from 2002 to 2005. Here, Bipin played a pivotal role in the Whitefield project, Intel's groundbreaking server microprocessor design initiative in Bangalore. Starting in a 30-member team, his expertise in comprehensive hardware design expanded, encompassing logic and circuit design, formal modeling, and verification for a high-end x86 server microprocessor.
Following his stint at Intel, Bipin transitioned to a role as a Training Facilitator at Janaagraha in 2006-2007, contributing to the creation of India's first citizen awareness program for the youth. His focus was on motivating individuals, particularly students and young IT professionals, to actively engage in the democratic process beyond just voting. The impact of his efforts is evident in one of the students he trained, who later led the renowned Jaagore campaign.
In 2006-2007, Bipin served as a Platform Architect at NVIDIA, collaborating with the global architecture team on media and communications processors. During this period, he fine-tuned a high-end memory controller for post-silicon performance and played a key role in developing the architecture for storage technologies such as RAID and SATA/AHCI. Subsequently, he took on the role of SoC Architect at Freescale Semiconductor from May 2007 to June 2009. Here, his focus was on multimedia and memory technologies for handheld devices, showcasing expertise in generating and analyzing performance models and proposing innovative features for Motorola chipsets.
Bipin's entrepreneurial journey began in August 2009 when he founded MobiKwik, where he currently serves as the CEO. Over the past 14 years and 7 months, he has dedicated himself to building disruptive technologies that make financial services affordable and accessible to 500 million Indians, marking a remarkable trajectory in his career.
Bipin Preet Singh - Career
Bipin Preet Singh's journey embodies the spirit of entrepreneurship. Growing up in India, he began his career fueled by a passion for technology and a talent for spotting business opportunities. Early on, Bipin recognized the potential of digital payments and aimed to create a platform to simplify and transform financial transactions. In 2009, alongside co-founder Upasana Taku, he established MobiKwik with a vision to make digital payments accessible to every Indian, marking the start of a transformative path.
Under Bipin's leadership, MobiKwik has become a pioneer in digital payments and financial services. The company has played a crucial role in promoting digital transactions in India, providing services such as mobile recharges, bill payments, digital wallets, and more. Bipin's commitment to financial inclusion is visible in MobiKwik's initiatives to empower millions of users, particularly those in underserved areas, with convenient and secure digital payment solutions. His strategic vision has guided MobiKwik through the challenges of the fintech industry, adapting to evolving consumer preferences and technological advancements.
Yash Gupta
Bipin Preet Singh - MobiKwik
Bipin Preet Singh's noteworthy accomplishments include guiding MobiKwik through different growth phases, securing significant funding, and forming strategic partnerships. His skill in attracting investment and building alliances with key industry players has not only helped MobiKwik grow but has also established the company as a crucial player in India's digital economy. With a deep understanding of market dynamics and a focus on innovation, Bipin has successfully led MobiKwik to expand its services, introducing digital credit, insurance, and wealth management.
Bipin's influence goes beyond the boardroom, he actively engages with the broader fintech community, sharing insights and contributing to discussions about the future of digital finance in India. His thought leadership is evident in public appearances, where he advocates for policy changes and technological advancements that can drive the growth of the fintech sector. Bipin's dedication to fostering an ecosystem of innovation has not only helped MobiKwik but has also played a role in the overall development of India's digital infrastructure.
In 2012, MobiKwik introduced a digital wallet system allowing users to deposit money online for bill payments and more. Teaming up with CashCare in May 2016, MobiKwik started offering small loans ranging from ₹500 to ₹2,500. The MobiKwik Lite mobile app was launched in November 2016, catering to users with older 2G mobile networks and those in areas with limited internet connectivity. By that time, the company had over 1.5 million merchants and 55 million users. Following the demonetization of Indian banknotes in November 2016, MobiKwik saw a 400% surge in financial transactions by late December 2016.
In February 2017, MobiKwik shared plans to invest about $45 million to increase its user base from 50 million to 150 million in 2017. By June 2017, Paytm and MobiKwik jointly accounted for 80 percent of India's mobile wallet transactions market. In 2019, MobiKwik expanded its services internationally through a partnership with DT One. Also in 2019, the company diversified its offerings by providing loans, insurance, and investment advice.
Shubham Kumar
Bipin Preet Singh - Controversies
On February 25, 2021, an Indian security researcher named Rajshekhar Rajaharia asserted that a hacker group named Jordandaven had taken the KYC details of almost 100 million MobiKwik users from a company server and posted them for sale on the dark web. The company, on March 4, 2021, refuted the claim and declared its intent to take legal action against the researcher. Subsequently, several independent researchers and users confirmed the availability of their MobiKwik data online. On March 30, 2021, TechCrunch reported that the company was hiring a third party to conduct a forensic data security audit.
Bipin Preet Singh - Achievements and Recognitions
Bipin is widely acknowledged as one of India's top tech founders. In 2016, he made it to the 'Fortune 40 under 40' list of Indian entrepreneurs. Additionally, in 2018, he was recognized in the 'Economic Times' 40 under 40' list of India's prominent business leaders.
Nitin Konde
FAQs
Who is Bipin Preet Singh?
Bipin Preet Singh is the Co-founder, Managing Director, and CEO of MobiKwik.
What is MobiKwik about?
MobiKwik, India's top digital banking platform, offers diverse financial services for both consumers and merchants, encompassing payments, digital credit, and investments.
What is MobiKwik used for?
MobiKwik has broadened its scope to cover various use cases, spanning bill payments, eCommerce, food delivery, petrol pumps, major retail chains, pharmacies, and local Kirana stores. Their platform facilitates peer-to-peer transactions through the Unified Payment Interface (UPI), MobiKwik Wallet, and seamless transfers from MobiKwik Wallet to banks.
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