Triotech Solutions Pvt. Ltd., a Gurgaon, India-based provider of Value Added Services, mobile commerce service delivery and software solutions, raised $3m (approximately 19 crore) in its first round of funding.
Singapore-based venture capital firm BlueHill Asset Management Pte. Ltd., made the investment.
Founded in 2009 by Rajesh Kaul, Chief Executive Officer, and Munish Dhingra, Chief Sales Officer & Co-Founder, Triotech Solutions specializes in the provision of a mobile app that allows India users to remit money through their mobile phone with no bank account needed.
The company is currently engaged with Bharat Sanchar Nigam Limited (BSNL) and Department of Post (DoP) to digitize their Money Remittance Business. Together with AmDocs (DOX: NASDAQ), it has signed an agreement with BSNL for rolling out the mobile platform for the State Bank of India for a mWallet project.
Its subsidiary, ‘Maverick Mobile’, provides ‘Mobile Money Transfer Service’ across 15,000 post offices across the country.
Triotech intends to use the funds to enhance its solutions and increase the number of post offices to be covered.
FinSMEs
24/12/2014