Ezetap raises Rs 102 crore from JS Capital Management

Must Read

President Ram Nath Kovind appoints new governor for Kerala, Telangana, Himachal Pradesh and Maharashtra

President Ram Nath Kovind appointed new governors for Maharashtra, Kerala, Telangana, Rajasthan, and Himachal Pradesh on Sunday. https://twitter.com/ANI/status/1168037199767457792 Former Union Minister Kalraj...

NRC list for Assam released; Fear looms as 19 lakh people face exclusion

NRC (National Register of Citizens) for Assam has been published at 10 am today. The final list excludes over...

Lateral Entry Era Begins as Union govt. appoints 9 professionals to Joint Secretary posts

The government has appointed its first batch of private professionals to the post of Joint Secretary in various ministries....

Ezetap, a fin-tech startup which offers payment solution to merchants, has announced that it has secured Rs 102 crore ($16 million) in its latest funding round. The amount comes from US-based JS Capital Management.

Along with JS Capital, existing investors of the company — Social Capital and Horizons Ventures have also participated in the current funding round.

As a part of this funding round, Salil Seshadri of JS Capital Management will join the Bengaluru-based company’s board.

The funding raised in the current round will help to the company to acquire more startups in its segment, thus strengthening its position in the segment. While the company has already expanded to Kenya, it could spend money on increasing its footsteps to other regions as well.

It will also spend money in an aggressive sales and marketing effort, along with investing in scaling its suite of enterprise solutions.

With this funding round, Social Capital has become the largest shareholder in the company, followed by Horizons and early investors Helion Venture Partners and Prime Venture Partners.

Earlier, the company had raised $23 million in its Series C round, making this round small compared to its previous funding round. Explaining the reason for the same, Abhijit Bose, CEO of the company said:

We raised a smaller round since we are planning to use this mainly as growth capital to expand sales, customer base and enhance technology. The participation of blue-chip investors guarantees us access to huge amounts of capital.

Founded in 2011 by Shripati AcharyaSanjay SwamyAbhijit BoseBala Parthasarathy and Bhaktha Keshavachar, the company is popular for its pocket-sized mobile point-of-sale (POS) devices that work alongside Android phones.

Abhijit Bose claims that the company has seen a huge success among customers and has already deployed over 200,000 of its POS devices.

Ezetap claims to have grown 8x in the past 18 months. It is now planning to increase transaction volume by another 3x in the coming 18 months.

In this space, the Ezetap competes against the likes of Pine Labs, which provides its users with solutions such as Instant EMI, Instant Discounts, Cash Back Programs, PaybyPoints, Loyalty Solution, Gift Solution, e-Wallet, Targeted Promotions, Dynamic Currency Conversion, and more.

- Advertisement -

Latest News

Modi meets Kashmiri Pandits, Sikhs, Dawoodi Bohras in Houston

Houston, Sep 22 (IANS) A delegation of the Kashmiri Pandit community met Prime Minister Narendra Modi in Houston, and...

Indian origin teen to sing national anthem at ‘Howdy Modi’

Houston, Sep 22 (IANS) A 16-year-old Indian-origin boy, born with a rare medical condition known as osteogenesis imperfecta' or brittle bone disease, will be...

Modi holds round table with oil sector CEOs in Houston

Houston (Texas), Sep 22 (IANS) In his first engagement after arriving in Houston, Prime Minister Narendra Modi held a round table meeting with oil...

Bollywood’s Age of Disruptors

By Vinayak ChakravortyNew Delhi, Sep 22 (IANS) Every generation defines the entertainment it gets. As we get ready to enter the third decade of...

T20Is: Rohit needs only 8 runs to regain top spot

Bengaluru, Sep 22 (IANS) India vice-captain Rohit Sharma will renew his battle with skipper Virat Kohli for the top spot in...
- Advertisement -

More Articles Like This