Explorer

Mswipe closes Series D funding above the USD 40 mn mark

Mumbai [India], Dec 7 (ANI): In order to expand its acceptance network for digital payments and strengthening product development capability, Mswipe Technologies has announced on Thursday the closing of Series-D round of funding above USD 40 million mark.

Mswipe Technologies is India's independent merchant acquirer and Point of Sale (POS) network provider with 280,000 terminals spread over 650 cities and towns.

Marking B Capital's foray into investments in India, the global tech fund has led the latest investment in the company together with Mswipe's existing investor - DSG Consumer Partners.

Eduardo Saverin, Partner at B Capital and Co-founder of Facebook, will join Mswipe's Board and work closely with the company as it enters its next phase of growth.

"We are excited to partner with Mswipe, an end-to-end payment solution that is made for India. While the US has been the traditional anchor for innovative technology, we are seeing disruptive innovation emerging from geographies like India, China, South East Asia and Israel. This is one of the reasons at B Capital we started with a global investment model and a presence in Asia and the US from day one," said Kabir Narang, Partner at B Capital.

Mswipe is addressing a large market estimated at 14 million merchants with low POS penetration. Mswipe's channel platform offers merchants an easy and efficient way to accept digital payments like UPI, Google Tez, PhonePe, BharatQR, and BHIM in addition to card payments.

"At Mswipe, we are at the forefront of the payments revolution by powering acceptance infrastructure at the merchants' end, enabling them to accept card and digital payments in a hassle-free manner. It is a great validation to have an investor like B Capital along with our existing investors. B Capital's expertise in the sector and its exceptional network in Asia will be an important ingredient as we shift orbit and execute our next phase of growth," Manish Patel, Founder and CEO, Mswipe said. (ANI)


This story has not been edited. It has been published as provided by ANI

View More
Advertisement
Advertisement
25°C
New Delhi
Rain: 100mm
Humidity: 97%
Wind: WNW 47km/h
See Today's Weather
powered by
Accu Weather
Advertisement

Top Headline

I.N.D.I.A Bloc In Bihar: Here's How Congress, RJD Have Decided To Share Seats After JD-U's Exit
I.N.D.I.A Bloc In Bihar: Here's How Congress, RJD Have Decided To Share Seats After JD-U's Exit
'BJP Should Pay Rs 4,600 Crore': Congress Slams Income Tax Dept, ECI After Getting Rs 1,700-Crore Notice
'BJP Should Pay Rs 4,600 Crore': Congress Slams Income Tax Dept, ECI After Getting Rs 1,700-Crore Notice
Another Blow To Congress As I-T Dept Serves Rs 1,700-Crore Notice Ahead Of Lok Sabha Elections: Report
Another Blow To Congress As I-T Dept Serves Rs 1,700-Crore Notice Ahead Of Lok Sabha Elections
Sunita Kejriwal Launches WhatsApp Campaign To Drum Up Support For Jailed Delhi CM
Sunita Kejriwal Launches WhatsApp Campaign To Drum Up Support For Jailed Delhi CM
Advertisement
for smartphones
and tablets

Videos

Bihar Seat Sharing: RJD to contest the upcoming polls on 26 seats-Sources | Elections 2024 |ABP NewsABP Shikhar Sammelan 2024: Anurag Thakur takes a jibe at Arvind Kejriwal's arrest | ABP NewsArvind Kejriwal Arrest: Sunita Kejriwal Launches WhatsApp Campaign To Drum Up Support For Jailed Delhi CMABP SHIKHAR SAMMELAN 2024: Here's What Defence Minister Reveals About His Further Political Plans

Photogallery

Embed widget