Mswipe raises an additional $10 million from B Capital

Ltd, which makes point of sale (PoS) machines for merchants, raised $10 million in funding from B Capital Group and DSG Consumer Partners, closing its Series D round, the company said on Wednesday.

Mswipe announced the Series D round in June, when it initially raised $31 million from Ratan Tata's UC-RNT Fund, Matrix Partners India and Falcon Edge Capital.

With this, Eduardo Saverin, Partner at B Capital and Co-founder of Facebook, will join Mswipe's Board. "Our philosophy at B Capital is to back exceptional founders and teams like the one at Mswipe and market leaders where we can leverage our global network to help accelerate their growth" said Kabir Narang, Partner at B Capital.

Started in 2011, the company claims to have a network of 280,000 terminals spread over 650 cities and towns.

The capital raised will support Mswipe's plans to expand its acceptance network at retail merchants for the card and digital payments and strengthen its product development capability. We think there is an opportunity for tech companies like Mswipe to become the entry point to serve SMEs in ways that were not possible earlier. 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 Asiawill be an important ingredient as we shift orbit and execute our next phase of growth". Narang was earlier with Fidelity Growth Partners and Warburg Pincus, where he was involved with big ticket investments in technology and financial services. "With our innovative payment accepting terminals, we not only allow our merchant partners to accept all forms of digital payments from cards to UPI, but also allow them to manage their inventory better", said Patel.

Headquartered in Mumbai, Mswipe has a 2,000 people strong pan-India sales and support network. Unlike traditional PoS deploying companies, Mswipe deploys mobile PoS devices which can use a smartphone to accept and process digital payments. Mswipe's proprietary Wisepad G2 is the first standalone EMV, PCI-PTS and NFC compliant mobile POS to be launched in India.

Please enter your email.

Notícias recomendadas

  • Vítimas dizem que EDP e Ascendi também têm de ser responsabilizadas

    Vítimas dizem que EDP e Ascendi também têm de ser responsabilizadas

    Um parecer jurídico do incêndio que esteve na origem do desastre de Pedrógão Grande desresponsabiliza a Ascendi e a EDP. Em declarações à TSF , Paula Oliveira lamenta o caso: "foi preciso acontecer uma desgraça destas para a lei mudar".
    CRH walks away from PPC bid

    CRH walks away from PPC bid

    On November 22, PPC issued a statement saying its independent board had advised shareholders to reject Fairfax's R5.75 per share offer.
    WatchOS 4.2 update brings support for Apple Pay Cash and more

    WatchOS 4.2 update brings support for Apple Pay Cash and more

    When users get paid, the money they receive is added to their new Apple Pay Cash card that lives in the Wallet app. To see how to use Apple Pay to send or receive money, click on the video at the top of the story.
  • Honda F1 chief Hasegawa to leave role in overhaul

    Honda F1 chief Hasegawa to leave role in overhaul

    The role of Honda F1 boss, performed by Yusuke Hasegawa for the last two years, will be split into two positions. Toro Rosso have New Zealander Brendon Hartley and France's Pierre Gasly.

    Nxp Semiconductor Nv (NXPI) Stake Held by Fore Research & Management Lp

    BidaskClub upgraded NXP Semiconductors from a "hold" rating to a "buy" rating in a research report on Wednesday, August 9th. The stock of NXP Semiconductors N.V. (NASDAQ:NXPI) has "Hold" rating given on Friday, November 3 by Stifel Nicolaus.
    Locked On Pacers 12/7 - Oladipo for president (Bulls recap)

    Locked On Pacers 12/7 - Oladipo for president (Bulls recap)

    The Bulls (3-20) came in averaging a league-low 95 points per game and shooting a league-worst 41 percent from the field. IN trailed by as many as 17 points on Wednesday and by 15 points in the fourth quarter before mounting a major rally.
  • Sismo de 3.6 abala o norte de Portugal

    Sismo de 3.6 abala o norte de Portugal

    Houve, sim, algumas chamadas de pessoas que queriam confirmar a ocorrência da atividade sísmica. Há quem tenha sentido em Penafiel, Mesão Frio , Marco de Canaveses e Freamunde, por exemplo.

    Trading Watch: Following Price Performance for Restoration Hardware Holdings (RH)

    Public Employees Retirement System of OH increased its position in shares of Restoration Hardware by 12.6% in the 1st quarter. The company has a market capitalization of $2,165.75, a PE ratio of 65.22, a P/E/G ratio of 1.21 and a beta of 1.71.
    Valorização nesta terça-feira atingiu recorde em US$200 bilhões — Bitcoin

    Valorização nesta terça-feira atingiu recorde em US$200 bilhões — Bitcoin

    Quando a Valve passou a oferecer Bitcoin como opção de pagamento à dois anos atrás, a taxa por transação era de apenas 20 cêntimos, mas na semana passada atingiu o máximo de 20 dólares.
  • António Costa eleito nona personalidade que vai moldar a Europa em 2018

    António Costa eleito nona personalidade que vai moldar a Europa em 2018

    Entre os 18 homens e as dez mulheres que compõem o ranking , o Politico caracteriza Costa como "um socialista bem-sucedido". António Costa foi considerado pelo Politico uma das personalidades que "está a moldar, agitar e fazer mexer a Europa".

    Move Over Law Gets New Campaign

    Drivers are encouraged to visit GiveThemDistance.com for more information about the initiative. Most drivers are likely aware of Scott's Law, also known as the "Move Over" Law.

    The Charles Schwab Corporation (NYSE:SCHW) Update on QI & Valuation

    A number of analysts offered their Estimated Earnings analysis for The Charles Schwab Corporation (SCHW ) for the current quarter. Finally, Quadrant Capital Group LLC boosted its holdings in shares of The Charles Schwab Corporation by 31.4% in the 2nd quarter.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.