Hike wallet crosses 5 million transactions every month

Investors in Hike include Tencent, Foxconn, Tiger Global, Softbank, and Bharti.

By Priyanka

    Local messaging app Hike Messenger today announced that its wallet is crossing five million transactions every month.

    Hike wallet crosses 5 million transactions every month

     

    The Hike wallet has seen a growth of over 30 percent month-over-month, in just five months from the launch of Hike 5.0 and wallet, the company claims.

    According to Pathik Shah, VP Product at Hike Messenger, "We are excited to see the Hike Wallet cross five million transactions per month so quickly. Given the tremendous growth we're seeing, we've decided to double down and have launched an innovative campaign for users to gift free money to their friends and groups and also introduced new features to enable a great Group experience."

    Besides this, the company has also launched a campaign wherein users can gift free money to friends and groups and receive money in the Hike Wallet.

    This campaign addresses the two biggest asks from Hiker users - first, enhance the Group experience and secondly make it easier to import their groups onto Hike.
    By gifting free money to friends and Groups in the Hike Wallet is an added incentive to get more people to experience the Hike Wallet.

    As a part of the campaign, Hike users can opt in and gift free money to their friends and migrate their groups and chats from other messaging apps to Hike easily with a few taps. It's an incredibly simple experience. As an added incentive, Hike users can receive up to Rs. 1 lakh in the Hike Wallet. More than 100 million people have received free money from their friends on Hike so far.

    The money received in Hike Wallet can be used to Send Money, exchange Blue Packets & do Mobile Recharges. Over the next few months, many more services like Cabs, Movies, Bus & other tickets will be available.

    The hike was launched in 2012 and acquired a user base of over 100 million in January 2016. In August 2016, Hike raised its fourth round of funding of $ 175 million led by Tencent and Foxconn at a valuation of $1.4 billion, making it the fastest company in the India to attain a valuation of USD 1 billion, having reached the milestone in just 3.7 years.

     

    Investors in Hike include Tencent, Foxconn, Tiger Global, Softbank, and Bharti. Apart from these, some of the top tech veterans from the Silicon Valley have also invested in the company and are advisors.

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