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Mswipe raises $20 mn from existing investors in fresh round
VCCircle
·
1y ago
Medial
Indian digital payments company Mswipe Technologies has raised $20m in primary growth equity capital from existing investors. The funding will enable Mswipe to expand its merchant payment network, enhance product development, and improve its technological infrastructure. The names of the investors have not been disclosed, but reports suggest that global investment firm Alpha Wave Ventures contributed almost $10m. Mswipe, founded in 2011, offers a range of financial products including POS terminals, payment gateways, and QR codes. The firm claims to have a merchant network exceeding 500,000 and has been profitable for the last five quarters.
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Mumbai-based Mswipe Technologies raises $20M led by Alpha Wave Global, existing investors
IndianStartupNews
·
1y ago
Medial
Mumbai-based digital payments startup Mswipe Technologies has raised $20 million in a growth equity round led by Alpha Wave Global, with participation from existing investors. With this funding, Mswipe aims to expand its merchant payment network, enhance product development, and strengthen its technological infrastructure. The Reserve Bank of India recently granted Mswipe a payment aggregator license, allowing the company to offer comprehensive payment technology solutions. Mswipe plans to diversify beyond offline merchant acceptance devices and focus on payment gateway offerings for mid-tier businesses and MSMEs. The company reported a 14% YoY increase in revenue and reduced losses by 46% for FY23.
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After securing PA license, Mswipe raises $20 Mn in Alpha Wave-led round
Entrackr
·
1y ago
Medial
Mswipe Technologies has closed a $20 million growth equity round led by Alpha Wave Global along with the participation of existing investors. The digital payments company recently received a payment aggregator (PA) license from the Reserve Bank of India (RBI). It’s worth noting that the funding has come after a gap of almost five years for the Mumbai-based company. To date, the startup has raised over $125 million from several marquee investors, including Matrix Partners, B Capital, DSG Consumer Partners, Epiq Capital, UC-RNT, and Ola. Fresh capital will help Mswipe expand its merchant payment network, and further strengthen product development and technological infrastructure, the company said in a press release. Mswipe provides a host of offline and online payment acceptance solutions, including point-of-sale devices, UPI, quick response codes and payment links to help offline merchants receive payments digitally. As mentioned above, Mswipe was recently granted the PA licence, which now enables the firm to provide full-stack payment technology providing omni-channel solutions. The PA license solidifies the company’s objective to enhance its suite of offerings while delivering secure payment technology to banking partners, enterprises, and merchants across categories, Mswipe had said in a statement. Mswipe has now joined the likes of Zomato, Decentro, Zoho, Juspay, Razorpay, Cashfree, Open and Enkash which recently received a nod from RBI to operate as an online payment aggregation platform. As per startup data intelligence platform TheKredible, Mswipe’s revenue from operations increased 13.69% to Rs 274 crore in FY23 compared to Rs 241 crore in FY22. Its losses contracted by 45.36% to Rs 49 crore in FY23 from Rs 90 crore in FY22. The company claims that it has been profitable at an EBITDA level for the last five quarters.
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Mswipe raises $20 million in ongoing funding round led by Alpha Wave
Economic Times
·
1y ago
Medial
Merchant payment provider Mswipe Technologies has raised $20 million in growth equity capital from its existing investors, led by Alpha Wave Global. The funds will be used to expand its merchant payment network and enhance its product and technology infrastructure. Mswipe recently received regulatory approval from the Reserve Bank of India for a payment aggregator license and will now compete with other providers in the online and offline merchant payment space. The company offers various payment solutions including point-of-sale devices, UPI, QR codes, and payment links, as well as loans and inventory management services to offline merchants.
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Dezerv Raises $32 Mn From Premji Invest, Others At A Valuation Of Over $200 Mn
Inc42
·
1y ago
Medial
Dezerv, a wealthtech startup, has received a $20 million investment from Premji Invest in its Series B funding round. Existing investors, including Elevation Capital, Matrix Partners, and Accel Partners, also participated in the funding. Established in 2021, Dezerv claims to have managed assets worth over INR 6,000 crore since its inception.
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Exclusive: Mswipe To Raise $10 Mn Debt From Alpha Wave Ventures
Inc42
·
1y ago
Medial
Indian fintech startup Mswipe is raising $10 million in debt funding from existing investor Alpha Wave Ventures. The funding comes shortly after Mswipe received a payment aggregator license from the Reserve Bank of India. The company plans to develop an in-house online payment gateway and offer full-stack payment solutions to offline and online merchants. Mswipe, founded in 2011, provides digital payment solutions such as POS terminals, QR codes, and audio devices for payment confirmation. The startup's net loss decreased by 45% in FY23, while revenue from operations rose by 14%. Mswipe competes with PhonePe, Paytm, Ezetap, and Innoviti.
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Sprinto Raises $20 Mn From Accel, Others
Inc42
·
1y ago
Medial
RegTech startup Sprinto has raised $20 million in Series B funding led by Accel. The funding round also included participation from existing investors Elevation Capital and Blume Ventures. Sprinto, founded in 2020, provides enterprises with automation tools for risk and compliance requirements. The company plans to use the funding for research and development, focusing on intelligent automation and artificial intelligence, as well as expanding into new markets.
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Knight Fintech to raise $10-12 Mn in fresh round
Entrackr
·
2y ago
Medial
Fintech startup Knight Fintech is in talks to raise fresh funds from new and existing investors, according to sources aware of the development. This would be the maiden funding round for the Mumbai-based company in 2023.
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Anushka Sharma-backed Slurrp Farm raises $7.2 Mn in new round
Entrackr
·
1y ago
Medial
Gurugram-based children-focused snacking and meal brand, Slurrp Farm, has raised Rs 59.9 crore ($7.2 million) in a fresh round of funding from new and existing investors. The startup plans to use the funds to strengthen its long-term financial resources. With a portfolio of over 25 millet-based products, Slurrp Farm aims to generate revenue of Rs 500 crore and expand its presence to 40,000 stores from the current 2,000 stores. The company was previously backed by investors such as Fireside Venture and Raed Capital.
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Mosaic Wellness raises $20 Mn at $400 Mn valuation
Entrackr
·
3m ago
Medial
Exclusive: Mosaic Wellness raises $20 Mn at $400 Mn valuation Mosaic Wellness, the parent firm of Man Matters, Boywise, and Little Joys, has raised Rs 175 crore (approximately $20 million) from Think Investment in a new round. The board at Mosaic Wellness has passed a special resolution to issue 16,279 compulsory convertible preference shares at an issue price of Rs 1,07,500 each to raise Rs 175 crore or $20 million, its regulatory filing accessed from the Registrar of Companies (RoC) shows. The filings further noted that the company plans to utilize the fresh capital for growth, expansion, and general corporate purposes. According to Entrackr estimates, the company has been valued at around $400 million post-allotment. Following the fresh proceeds, Think Investment will hold 5.04% of the company. Founded in 2020 by Revant Bhate and Dhyanesh Shah, Mosaic Wellness is a digital-first consumer health platform that runs three separate brands for men, women, and kids. Its flagship brand ManMatters offers solutions across derma, sexual health, hygiene, and nutrition. Mosaic Wellness has raised over $65 million to date, including its $24 million Series A led by Peak XV along with existing investors Elevation Capital and Matrix Partners India in 2021. As per the startup data intelligence platform TheKredible, Elevation Capital is the largest external stakeholder, followed by Peak XV and Matrix Partners. The company has recorded a 61.7% year-on-year growth to Rs 333 crore during the fiscal year ended March 2024, compared to Rs 206 crore in FY23. Moreover, the firm managed to control its losses by 37.1% to Rs 39 crore in the same period.
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Stellapps Bags $26 Mn To Scale Up Its Dairy Product Offerings
Inc42
·
9m ago
Medial
Stellapps, a dairy technology startup, raised $26 million in a Series C funding round. The funds will be used to expand its mooMark business. The majority of the investment came from existing investors. This follows the company's previous $20 million funding round in January.
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