Digital wallet firm MobiKwik has appointed former India head of instant messaging app Line, Daman Soni, as vice president for user growth.
MobiKwik was founded in 2009 by the husband-wife duo of Bipin Preet Singh and Upasana Taku. The company claims to have a network of more than 10 lakh direct merchants and 45 million plus users on its platform.
In 2014, mobikwik won the mBillionth Award South Asia in the category of Mobile Business.
From now onwards, Soni will be responsible for achieving the company’s user growth targets. Besides, it said in a statement that he will also support the marketing function.
He has also headed Telecoms Business Development for Infosys in Britain and was associated with north Indian states for Nokia.
“I am pleased at receiving the opportunity to lead growth for MobiKwik at a time when the mobile wallet industry i s at the cusp of its evolution,” said Soni in a statement.
MobiKwik’s marketing budget is typically $15-20 million (Rs 102-136 crore) a year, but that has tripled after demonetisation. It now plans to invest Rs 25 crore over the next three months on major advertising campaigns.
The company also aims to achieve a gross transaction value (GTV) of $10 billion and serve over 150 million users in 2017