wordpress blog stats
Connect with us

Hi, what are you looking for?

Mswipe Secures Series B Funding From Matrix Partners & Axis Bank: Sources

Mobile Point of Sales (PoS) payment company Mswipe has raised an undisclosed amount in Series B funding from existing investors Matrix Partners and Axis Bank, reports TechCircle citing sources with direct knowledge on the matter. Mswipe’s MD and CEO Manish Patel has declined to comment on this to the publication. Medianama had also heard the same from sources but we had been unable to confirm it. We tried contacting Matrix Partners and Mswipe on this but we’re yet to hear back from them. We’ll update in case we hear back. Mswipe had earlier raised an undisclosed amount of investment from Matrix Partners last January, although the report says Axis Bank had also participated in this round. Note that Axis had partnered MSwipe and Hitachi's Prizm Payments to launch a mobile point of sales solution in July 2012. Prizm Payments MD Loney Antony had also informed MediaNama that the company has the distributorship for Mswipe’s device. Before this, Mswipe had reportedly received angel investment from former Anand Rathi investment banking head and Mumbai Angels co-founder Praveen Chakravarty and Beacon India Private Equity Fund founder and managing director Deepak Shahdadpuri in 2012. Setup in March 2011 by Manish Patel, Mswipe currently offers a series of point of sale devices like card swipers which plugs into the mobile phone's audio jack to enable POS payments, WisePads which pairs with the user's phone or tablet to convert it into a POS and a dedicated Android phone which runs on Android 4.0 'Ice Cream Sandwich'. It also offers apps for Java, Android and iOS devices. It claimed to have POS terminal deployments with 4,000…

Please subscribe/login to read the full story.
Written By

Free Reads

Technology Policy Review October-December 2020

News

The deep tech policy of India is in the inter-ministerial consultation stage.

News

The unit is also set to "identify suitable cases for defence applications by fostering collaboration with academia and industry."

News

A recent report by CDCL presents ex-ante rules as existing in a complementary relationship with ex-post rules, where sectoral authorities would “set the rules...

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

NPCI CEO Dilip Asbe recently said that what is not written in regulations is a no-go for fintech entities. But following this advice could...

News

Notably, Indus Appstore will allow app developers to use third-party billing systems for in-app billing without having to pay any commission to Indus, a...

News

The existing commission-based model, which companies like Uber and Ola have used for a long time and still stick to, has received criticism from...

News

Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...

News

Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ