March - 2014 - issue > Venture Beat

Ezetap Raises '50 Crores From Helion Advisors

SI Team
Tuesday, March 4, 2014
SI Team
Ezetap Mobile Solutions, a Bangalore based mobile payments service provider has raised around '50 crores from Helion Advisors, Social+Capital Partnership and Berggruen Holdings in series B round of funding. Ashish Gupta, Senior Managing Director, Helion Advisors along with Sanjay Swamy, Managing Partner, Angelprime and Chamath Palihapitiya, Founder of the Social+Capital Partnership will be joining Ezetap's board. The company had previously raised over '21 crores in series A funding in November 2012 from Social+Capital Partnership and individuals including Nicolas Berggruen of Berggruen Holdings, David Sacks (Founder of Yammer) and Peter Thiel (Co-Founder of PayPal and one of the Facebook's early investors).
The company was founded in 2011 by Abhijit Bose, Sanjay Swamy and Bhakta Keshavachar, and delivers inimitable solutions to various divisions of businesses that use mobile devices as key to their growth. Ezetap's technology, device and design are the finest adapt to ever changing necessity of the customer. Its services had been implemented over 12,000 devices across South East Asia and Africa. It is planning to use the fund to increase its global growth across Asia and Africa, and expecting to cross 100,000 devices in the upcoming months.
Abhijit Bose, Co-founder & CEO, Ezetap, says, "There is an enormous need to provide electronic payments across emerging markets. We have designed a flourishing model based on outstanding technology, scalable distribution through a combination of partnerships and our own direct sales force & a cost structure". Ezetap solution is consisting of safe and lightweight card reader, a configurable mobile application and a flexible platform that changes any merchant's existing systems into an intelligent point of sale. The Ezetap service is acquiescent with global security guidelines including the Europay, Mastercard & Visa, Payment Card Industry PIN Transaction Security, Payment Card Industry Data Security Standard and Payment Application Data Security Standard. It is one of the fastest growing global leaders in Mobile Point of Sale (MPOS) market that offers tailored solutions for enterprises.

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