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Ezetap Raises $3.5M Funding From Peter Thiel, Chamath Palihapitiya, Nicolas Berggruen & David Sacks

Ezetap, a company that provides POS solution and incubated at AngelPrime, has raised $3.5 million in series A funding from Peter Thiel, Chamath Palihapitiya, Nicolas Berggruen and David Sacks. Chamath Palihapitiya's The Social+Capital Partnership led the funding round while others co-invested in the series A funding. Individual investment by each investor has not been disclosed. It's also not clear as to how the company will make use of the funds raised. Apart from that, Chamath Palihapitiya's The social+capital partnership has also invested in the AngelPrime incubator. Although the financial details of the deal have not been disclosed yet, the investment will be used to finance the startup companies that AngelPrime will incubate and seed during the next 3 years. Mayfield Fund, a California based global venture capital firm, had also recently announced that it would be backing AngelPrime, which was founded by  Bala Parthasarathy, Shripati Acharya and Sanjay Swamy in 2011. The investment in Ezetap is rather interesting since it comes from Peter Thiel who co-founded PayPal, an e-commerce website to send and receive payment electronically. Chamath Palihapitiya is a founder of The Social+Capital Partnership and earlier worked on Facebook’s online advertising channel. Nicolas Berggruen is a PE investor and David Sacks is a founder of Yammer. Sacks also previously worked at PayPal as COO. The company had recently launched a mobile PoS (Point of sale) solution that allows feature phones, smartphones and tablets to be converted into Point of Sale terminals, by adding a compact accessory, the Ezetap Card-Reader. What's interesting is that the company claims that product has been designed and manufactured…

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