Hike Wallet has crossed 10 million transactions per month

Of the 10 million transactions, 70 percent were on recharge and the remaining 30 percent on peer-to-peer.

By Priyanka

    Homegrown messaging app today said its Hike Wallet has crossed 10 million transactions per month, growing 100 percent month-over-month.'

    Hike Wallet has crossed 10 million transactions per month

     

    Of the 10 million transactions, 70 percent were on recharge and the remaining 30 percent on peer-to-peer (P2P), the company said in a statement.

    Kavin Bharti Mittal, Founder, and CEO, Hike Messenger, "The growth on the Wallet have been tremendous and honestly, we're just getting started. On the back of this growth, we've launched an updated design to make it easier to discover and transact with services on Hike."

    He said that 'It's also become quite clear to us that our users want more services. So we're heads down working hard to bring things like booking taxis, movie tickets and more to the platform. Expect these to start rolling out as early as next quarter."

    The company is planning to add more services like cab bookings, bus, train, movie tickets and pay bills in Q1 2018.

    Meanwhile, Hike is also planned to come up new Public Group in next two months.

    "The one we are building is new Public Group because its hard to discover groups that are around us like any college, and young professionals in some cases so we are building a new feature to help them," Vishwanath Ramarao, CTO, Hike Messenger told Gizbot in an exclusive interaction recently.

    The instant messaging platform has added new social features for Groups like Vote, Bill Split, Checklists, Events with Reminders and even Teen Patti.

    These features will work in the group with up to 1,000 members.

    Hike Messenger app 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 India to attain a valuation of $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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