Bipin Preet Singh is an Indian Entrepreneur who founded Mobikwik which facilitates making payments. Mobikwik quickens payments by making them online with just one – touch. This made financial services available as well as affordable to 500 million people in India.
Bipin Preet Singh is an electrical engineer from IIT Delhi. He headed the designation of CEO at Mobikwik. With this innovative idea, he ameliorates the usage of Mobile Phones. Bipin Preet Singh is from Gurgaon. Bipin’s father owned a book shop in Rourkela, Odisha. But due to the 1984 Sikh riots, his family shifted to Delhi.
The Young Entrepreneur is a graduate from IIT Delhi with a B. Tech degree in Electrical Engineering in his hand in the year 2002. After completing his graduation, he worked for Intel as a Senior Design Engineer. He was confused about whether he should pursue his studies by doing an MBA or he should start something of his own.
In Intel, he worked for 3 years in Whitefield Project in Bangalore which has been Intel’s first-ever project including server microprocessor designing. He worked on mainly circuit designing as well as formal modeling of the microprocessor. After leaving Intel, he became a part of Janaagraha in 2006 where he gave services as a training facilitator. During this time, he worked on programming a social awareness program. Which limelight to motivate students as well as IT professionals to think of democracy beyond voting.
He continued training series in companies like Dell, NVIDIA which enhanced his skills and helped him to achieve better career opportunities. He contributed his part of services to NVIDIA as a Platform Architect in 2006. He too developed architectural infrastructure for RAID as well as SATA/AHCI. In 2007, Bipin joined Freescale semiconductor as an SoC Architect as well as worked there for 2 years. Here headed the work to generate and analyze performance models, work on memory technologies, a proposed new feature for Motorola Chipset, etc. He decided to step into his own business as well as to do something more than 5 to 9 jobs.
From an engineer to an entrepreneur
He thought that starting up a business was much cheaper than doing an MBA. He states that at the time all were using mobile phones and they were prepaid as well as questions strike to him were how do people pay for this and how they pay money for it. And knowing that they went to a shop for prepaid recharge. This seems to be illogical to him. Moreover, he thought that what one will do if the balance went out at night 8 o clock. So, he thought to introduce an online mode for making these kinds of payments.
His idea of Mobikwik was explained by him to many but they rejected his idea. But when he expressed his idea to his old friend he believed in his vision as well as agreed to join him in his venture. Then finally in 2009, Bipin with his wife Upasana founded Mobikwik to facilitate the payment system as well as transactions through money scenario. Mobikwik launched a closed wallet facility and a mobile application for the same. He invested 8 lakhs into his start-up as well as rented an office at Dwarka, Delhi.
In 2012 Mobikwik launched an e-wallet system and in November 2016, the company introduced Mobikwik lite mobile app. By April 15, this esteemed had 15 million users and according to Forbes magazine every month one million users are added. Mobikwik also provides the facility of providing small loans in partnership with cash care. Today Mobikwik connects 105 million of its users to over 3 million merchants. Mobikwik future aspirations are to reach a billion Indian Users and hit $20 billion by 3022.
Net worth Bipin Preet Singh
According to media reports, in 2021 Mobikwik raised 20million USD from Abu Dhabi Investment Authority (ADIA), valuing the company at 700 million USD. Assuming the CEO still holds a 20 % stake in the company his net worth was estimated to be 140 million USD, which is around 1000 crores in INR.
With the laborious work of Bipin Preet Singh, he received an award too. In 2014 his company won the award of Billionth Awards South Asia in the category of mobile business.
“Commitment and passion for the job is very critical”
~Bipin Preet Singh
The success story of Bipin preet singh Makes a good impact on Youngster life.