In a world where the business realm is witnessing an exciting surge in female entrepreneurs like Falguni Nayari, Vineeta Singh, Isha Ambani, Jayanti Chaudhary, and many more, Upasana Taku stands tall as a remarkable trailblazer, carving her path to dominance in the fintech sector. Co-founder and COO of MobiKwik, a fintech powerhouse, Upasana Taku is a name that consistently captures the attention of aspiring business leaders in India and beyond.
Upasana Taku embarked on her journey towards success armed with an engineering degree from Punjab Technical University. However, her thirst for knowledge and her entrepreneurial spirit led her to pursue a master's degree in management science and engineering from the prestigious Stanford University. These formative years laid the foundation for her future endeavours in the world of technology and finance.
With over 17 years of experience in related fields, Upasana Taku's professional journey is nothing short of inspiring. Her career includes stints as a product manager at American payments giant PayPal and a role at HSBC. It was during her time in the United States that the seeds of entrepreneurship were sown in her mind.
In a significant move, she returned to her homeland, India, in 2008 with a burning desire to address critical issues facing the nation. India's vast potential and challenges made it an ideal place for her entrepreneurial aspirations. Despite concerns from her family about the perceived risks, Upasana Taku was determined to make a difference.
In an interview with Forbes, she revealed her commitment to addressing substantial issues in India. The move to her home country was a defining moment, as she left behind her comfortable life in the United States, complete with a spacious home and a car. Her parents, her father, a physics professor at the University of Asmara in Eritrea and her mother, a musician, were residing in Africa at the time. Undeterred by the challenges ahead, Upasana Taku embarked on her entrepreneurial journey.
It was in 2008 that she met Bipin Preet Singh, her future husband and co-founder of MobiKwik. Their journey together began while watching a play, eventually culminating in their marriage in 2011. Bipin Preet Singh had conceptualised MobiKwik in 2008 but was unable to leave his job due to familial responsibilities. It was Upasana's unwavering support that empowered him to take the leap, resign from his job, and formally launch the startup in 2009.
Under Upasana Taku's visionary leadership, MobiKwik has flourished. The company achieved profitability in the third quarter of the fiscal year 2022–2023, marking a significant milestone. The firm's ambitious goals for the current year include doubling revenue and sustaining full-year profitability.
In the most recent fiscal year, MobiKwik reported revenue of Rs 560 crore, a testament to its growing influence in the fintech industry. One of the company's standout initiatives is the 'Buy Now Pay Later' program, which has contributed to the expansion of its user base. MobiKwik's recent funding round in December 2021 raised an impressive $700 million, approximately Rs. 5,723 crore, underscoring the confidence investors have in its potential.
Upasana Taku's journey from a humble engineering student to a fintech powerhouse has been marked by resilience, vision, and unwavering determination. Her impact on India's fintech landscape is undeniable, and her story serves as an inspiration to aspiring entrepreneurs, especially women, who dare to dream big and break barriers in the world of business. With leaders like Upasana Taku at the helm, India's fintech sector is poised for continued growth and innovation, making a positive impact on the nation's economy and beyond.