Mobile Payment Company Ezetap Swipes $8M in Funding
February 24, 2014
Ezetap, an India-based mobile payment platform, has raised $8 million in Series B funding led by Helion Venture Partners, with participation from Social+Capital Partnership and Berggruen Holdings. The company, which was incubated by Indian seed-stage fund Angelprime in 2011, has now raised $11.5 million in to-date funding counting a $3.5 million Series A round raised in November 2012. Ezetap works much like Square and similar mobile payment systems, consisting of a card-reading device (that plugs into a mobile phone's headphone jack) and a mobile app, enabling users to process payments from any location. The company will reportedly use the new funds to expand into the Asia-Pacific region, Africa and the Middle East.