mChek closes second round of funding

Printer Print Email Email
Bangalore: mChek, an Indian provider of mobile security and payments services has closed a second round of venture capital (VC) funding from Nexus India Capital, a venture capital financing company. Nexus has invested around $5-8 million. Also, Draper Fisher Juvertson (DFJ) took part in the financing round.

As reported by VCCircle, Sanjay Swamy CEO of mChek said that the company is working aggressively to bring banking to the masses via mobile-enabled services. The primary focus of mChek is to offer convenience to customers while the larger goal is to enable people to graduate to mobile banking. Founded in 2006, mChek provides payment solution which has been certified by VISA International for secure 'card-present' transactions, wherein a mChek Visa Card can be issued to the mChek application on the phone and can be used to transact. Its applications are used for mobile recharge and bill payments, money transfer and over-the-counter (OTC) payments. mChek products are used across India and Sri Lanka. Currently, there are about 100 employees in the company.

The company has partnerships with ICICI Bank, HDFC Bank, Standard Chartered, Airtel, Visa, Tata Indicom, and online merchants such as FutureBazaar.com, HomeShop18, BigFlix.com, Indiatimes.com, SifyMall.com and Yatra.com.

SPOTLIGHT
Startup City
India Accelerator, a GAN partnered, mentorship-driven, acceleration program hosted ‘The Inner Ci..
Technology
Facebook ruled out a cyber attack on its products Whatsapp, Instagram and Messenger, which suffere..
Gadgets
Chipset-making giant Qualcomm has listed chipsets such as Snapdragon 855, 845, 710, 675 and 67..
US Indian
An Indian-American teenager has been conferred with the 2019 National STEM (Science, Technolog..
Career
IIT Roorkee organized an MoU exchanging ceremony between the Govt. of India Department of Scie..
Finance
The Department of Telecommunications (DoT) in consultation with the Finance Ministry plans to spli..
Business
Hinduja Global Solutions here on Monday said it has set up a centre of excellence to train disable..
Entertainment
First things first. "Made In Heaven" is the sexiest webseries India has produced, no doubt about i..
Enterprise IT
PayByPhone, the global leader in mobile parking payments, today announced that it will appoint And..