Bangalore: Indian technology firm, EzeTap has secured of $3.5 million funding from Paypal’s Peter Thiel, Chamath Palihapitiya of Social+Capital Partnership, Nicolas Berggruen and Yammer founder- David Sacks, as reported by DealCurry.com.

The investment amount by each of them is yet to be disclosed.

 Launched by AngelPrime, EzeTap is cofounded by former Oracle and NGPAY executives, Abhijit Bose and Bhaktha Kesavachar and AngelPrime’s Sanjay Swamy. At present, Bose is the CEO, with Kesavachar and Swamy holding the CTO and chairman positions respectively. The company is currently headquartered in Bangalore.

The company recently launched its first technology product, a mobile PoS solution that can convert users’ gadgets into PoS terminals, simply by adding a compact accessory, the Ezetap Card-Reader.

The service already has been recognized by some of the leading banks through their respective merchants. Along with that users can also avail the service through various mobile operating systems such as Nokia S40, Android, Windows Mobile and Apple iOS platforms.

The main advantage of using EzeTap Card Reader is that it can eliminate the use of paper receipts as the product can capture signatures electronically.