Ltd, which makes point of sale (PoS) machines for merchants, raised $10 million in funding from B Capital Group and DSG Consumer Partners, closing its Series D round, the company said on Wednesday. Mswipe announced the Series D round in June, when it initially raised $31 million from Ratan Tata’s UC-RNT Fund, Matrix Partners India and Falcon Edge Capital. It makes mobile PoS (mPOS) devices for merchants, a cheaper variety of the more bulky PoS device conventionally provided by banks. According to Mswipe, the Indian market has about 14 million merchants with low PoS penetration. Mswipe’s competitor Ezetap, which also makes low-price mPoS devices, raised $16 million from JS Capital to fund its growth.

Source: Mint December 06, 2017 19:41 UTC