Bangalore based, Ezetap, has announced that is has raised Rs. 150 crores in fresh funding from Social+Capital, Helion Advisors, Berggruen Holdings, Horizons Ventures and Capricorn Investment Group.
Chamath Palihapitiya, former Facebook executive and Social+Capital founder, will become Chairman of Board.
Ezetap founded in the year 2011 by Abhijit Bose, Sanjay Swamy and Bhaktha Kesavachar. It’s launched in the year 2013.
As per the company, it processes transactions worth over US$1 million per day and has deployed over 60,000 points of sale across India in under 30 months.
Ezetap is a Mobile-based payments service provider which turns any merchant’s mobile device into an intelligent point of sale to enable to read any type of card and complete any type of financial transaction, from a credit card sale to a real-time bill payment, to an ATM cash withdrawal or deposit.
Abhijit Bose, Co-Founder and CEO of Ezetap said “Our vision is to be the most preferred, lowest cost, and universal platform through which businesses transact and engage with their customers. This funding, along with Chamath’s active guidance from scaling Facebook, gives us the fuel to help Ezetap realize our vision and massive potential.”
“What makes MPOS unique is that every Ezetap mobile application being used by a merchant is configurable and smart. This is a fundamental change from the way payments have worked for decades and why it never scaled in India. Not only can we easily enable a storekeeper anywhere in the country to accept all forms of payments and increase their sales, we can actually turn his or her small shop into a bill payment centre, eGovernment service point, full service bank branch, and much more with only a few keystrokes in Bangalore. We are a true ‘Make In India’ company that will help deliver the promise of the Pradhan Mantri Jan Dhan Yojana.”