The India-based mobile wallet and recharge platform raised the amount at an undisclosed valuation to continue to expand the business.
The round was led by Japan's GMO Payment Gateway and Taiwan's MediaTek.
The funds will be used for product innovation, expanding the team and user growth, it said. MobiKwik didn't disclose the valuation at which it raised the fresh funds. But co-founder and CEO Bipin Preet Singh said its valuation has significantly increased, though he didn't specify whether he was referring to the Series C round in particular. The startup claims that its gross merchandise value has grown 250% annually for the last four years.