Mswipe Technologies Private Limited, a Mumbai, India-based merchant acquirer and Point of Sale (POS) network provider, closed an over US$40m Series D funding.
The round was led by B Capital Group, with participation from DSG Consumer Partners UC-RNT Fund, Matrix Partners India and Falcon Edge Capital. In conjunction with the funding, Eduardo Saverin, Partner at B Capital and co-founder of Facebook, will join Mswipe’s Board.
The company intends to use the funds to expand its acceptance network at retail merchants for card and digital payments and strengthen its product development capabilities.
Led by Manish Patel, Founder and CEO, Mswipe provides an omni-channel platform that offers merchants the tools to accept digital payments like UPI, Google Tez, PhonePe, BharatQR, and BHIM in addition to card payments using Mswipe’s payment terminals, mobile phones, tablets or PCs.
The company has established a network of 280,000 terminals spread over 650 cities and towns in the country.