Future Enterprises acquires 55% stake in LivQuik

Date posted: Thursday 11 October 2018

Kishore Biyani-led Future Enterprises Ltd acquired a 55% stake in Mumbai-based fintech startup LivQuik Technology (India) Pvt. Ltd, which operates the QuikWallet mobile app. The Future Group subsidiary it intends to pick up the remaining stake in the company over the next two years to set up its own payment gateway for digital transactions. With this acquisition, it is likely to use its own back-end as a gateway. It processes 65% of its transactions digitally, as compared to 35-40% in the pre-demonetization days.

(Live Mint)