Bangalore: LivQuik, a Mumbai based mobile payment startup company, raises $1.6 million in a round led by its existing investor Snow Leopard Ventures. The new amount is claimed to be utilized for scaling the team, technology and merchant base. While the venture had earlier raised $0.50 million in its seed round from the same investor, it is also proclaimed that the company is looking forward to raise a Series A round of $5 million soon.
Founded in April 2012, LivQuik – the parent company of the payment and loyalty app QuikWallet – is a proud venture of Mohit Lalvani, Yudhajit Nag Sen, Vinay Pinto and Suma Bhattacharya – who hail from diverse professional backgrounds. Through its revolutionary mobile wallet, QuikWallet, the company enables people to exploit their smartphones to pay at retail outlets and restaurants, while its payment options that include SMS, NFC, QR codes, mobile applications and POS software power the process.
Till date, LivQuik claims to have proffered its services to around 1000 merchants who range from kiranas to educational institutions and car service centers. It is also said that the company today owns around 100,000 users across five metros and around Rs.50 lakh of transactions per month.