wordpress blog stats
Connect with us

Hi, what are you looking for?

, ,

Ezetap secures $16M funding from JS Capital and existing investors

Bangalore-based payments solutions startup Ezetap has raised $16 million in a growth round of funding led by  US-based VC fund JS Capital Management Llc, existing investors Social Capital, and Horizons Ventures, reports Livemint. As a part of the deal, Salil Seshadri from JS Capital Management joins the board of directors at Ezetap.

The publication reports that Ezetap will invest the fresh funds in sales and marketing and for strengthening its enterprise solutions. Ezetap’s Co-Founder and CEO Abhijit Bose told Mint that Ezetap is targeting monthly transaction volumes of Rs 3,000 crore in one year, up from Rs 800-900 crore a month that it generates currently. He added that the company will focus on selling to companies in e-commerce logistics, insurance, telecom, oil and gas segment, and also provide payments infrastructure for government projects.

In June, Ezetap acquired FortunePay, which offers banks a mix of digital payments solutions as well as physical payment solutions. This was Ezetap’s second acquisition: In June 2014, it acquired Hyderabad-based loyalty platform Clinknow which enables merchants to create and offer real-time offers to their customers based on their transaction history.


-In 2015, the company raised Rs 150 crores in Series C funding from Social Capital, Helion Advisors, and Berggruen Holdings, Horizons Ventures, the private investment arm for Li Ka-Shing, and the Capricorn Investment Group.
-Ezetap had previously 
secured an undisclosed amount of funding from American Express in return for a minority stake in March 2014.
-In February 2014, the company had raised $8 million in a 
Series B funding from Helion Advisors, with participation from existing investors Chamath Palihapitiya’s The Social+Capital Partnership and Berggruen Holdings.
-Incubated by early stage investment fund AngelPrime, Ezetap had initially 
raised $3.5 million from The Social Capital Partnership, Peter Thiel, Nicolas Berggruen & David Sacks.

Other Developments from Ezetap

-In October 2015, Ezetap allowed universal mobile wallet acceptance on its platform to enable in-person transactions at home or at store. Ezetap brought on board Paytm, Mobikwik, Freecharge, and Novopay for the same. However, in 2016, Paytm has cut off all mobile wallet aggregators and goes directly to merchants.

Advertisement. Scroll to continue reading.

– In June 2014, Ezetap partnered with State Bank of India to deploy 500,000 PoS terminals across the country in the next five years. 

-In January 2013, Ezetap partnered with Citibank to launch a mobile payment solution for merchants targeting credit and debit card holders in India.

Written By

Writes about e-commerce, social media, tech and Internet ecosystem.

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



A viewpoint on why the regulation of cryptocurrencies and crypto exchnages under 2019's E-Commerce Rules puts it in a 'grey area'


India's IT Rules mandate a GAC to address user 'grievances' , but is re-instatement of content removed by a platform a power it should...


There is a need for reconceptualizing personal, non-personal data and the concept of privacy itself for regulators to effectively protect data


Existing consumer protection regulations are not sufficient to cover the extent of protection that a crypto-investor would require.


The Delhi High Court should quash the government's order to block Tanul Thakur's website in light of the Shreya Singhal verdict by the Supreme...

You May Also Like


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...


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...


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...


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...

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
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