India-based point-of-sale (POS) technology developer Mswipe Technologies, which counts on-demand ride service Ola as an investor, has closed its series D round at $41m after raising another $10m, LiveMint has reported.
B Capital Group and DSG Consumer Partners supplied the new funding, adding to $31m closed by Mswipe in a June 2017 first tranche led by UC-RNT Fund that included Matrix Partners India and Falcon Edge Capital. Eduardo Saverin, B Capital partner, will join its board of directors.
Mswipe provides mobile POS devices that enable merchants to accept payments anywhere, and also offers merchants a mobile payment processing platform and an automated system for settling payments.
Reports in June suggested the series D round valued the company at $200m, and LiveMint reported it has now raised a total of $75m since it was founded in 2011.
Ola participated in Mswipe’s $25m series C round in 2015, which was led by Falcon Edge and backed by Meru Capital, Matrix Partners India and Axis Bank, which exited the company in the first tranche.
– Image courtesy of Mswipe Technologies Pvt Ltd.