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Payments firm Tonetag looks to bag $50 million from Iron Pillar, others

Economic Times · 4m

- Tonetag is in talks with Iron Pillar to raise at least $50 million. - The funding would be a combination of primary and secondary share sale. - Around $30-35 million of the funding is expected to come from primary share sale. - Tonetag has commercial contracts with technology firms like Google and Amazon. - Tonetag closed the first quarter of the current financial year with revenue of Rs 45 crore and is profitable. - Tonetag has built unique technology for sound-based merchant payments.