Payment Firm mSwipe Raises $31 Mn from Falcon Edge, B Capital Asia, Epiq Capital and DSG Consumer Partners
14 March 2019 2:04 PM IST
Mumbai-based payments startup�MSwipe Technologies�has raised Rs 219.8 crore in a new round of funding from US-based hedge fund�Falcon Edge, Facebook Co-founder Eduardo Saverin?s�B Capital Asia, late-stage technology investment firm�Epiq Capital�and consumer-focused fund�DSG Consumer Partners, according to filings
- According to the filings, B Capital Asia invested close to Rs 69.99 crore, followed by DSG Consumer Partners, who invested Rs 20.91 crore.
- Founded in 2011 by Manish Patel, mSwipe is an independent mobile Point-of-Sale (POS) merchant acquirer and network provider that allows small and medium-sized enterprises to enable card-based payments through their mobile devices.
- Unlike other traditional PoS-deploying entities such as Pine Labs and Worldline, Mswipe onboards its own merchants and deploys mobile PoS terminals which are primarily aimed at bringing small merchants within the fold of digital payments.
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