• FOUNDING YEAR: 2011
    LOCATION:
    India
    REGION:
    MH
    Last Update:
    27 Jun, 2019

Description

FOCUS

PRODUCTS & SERVICES:
Mobile POS - W-series, M-series, C-series, Wisepad and m-swipe. It gives the merchants freedom from new account opening, batch closure, charge slips and helps in easier integration with the billing system.
REVENUE MODEL:
Viewable by subscribers only
MAIN CLIENTS:
Joe Coffee, Gin Lane, Bec Brittain, Benze group, Apollo Munich, Asian Paints, Bajaj Allianz, CarzOnRent, Chola, Costa Coffee, Dealskart, HDFC Life, ICICI Securities, Indus Health, Jabong, MakeMyDrink, Max Bupa, McDonald's, Myntra, Quikr, Reliance, Percept, SPI Cinemas, Veena world, Venky's, WS, Spectranet, WS, Citycom, Yatharth Wellness, Axis Bank, Ratnakar Bank, Corporation Bank.
EXISTING PARTNERSHIPS:
It has a global presence, particularly in the Middle East, Southeast Asia and US through partnerships.
COMMENT
Provides POS terminals which can read stripes and pins and it has a pan-India direct sales agent network that provides sales support to its clients.

PEOPLE

FOUNDERS:
Manish Patel
Board Members and Advisors:
Manish Patel, Eduardo Saverin
NUMBER OF EMPLOYEES:
501-1000
INVESTORS:
Epiq Capital, Matrix Partners India, Axis Bank, DSG Consumer Partners,Meru Capital,Olacabs, Falcon Edge Capital, Matrix Partners, UC-RNT fund, DSG Consumer, B Capital Group, Ola, JSCapital, Haystack Partners, Everstone Capital
KEY EMPLOYEES:
Manish Patel (CEO); Yogesh Mistry(CTO)

TRACTION

ACTIVE USERS:
0.0000
ACTIVE USERS COMMENT:
The company claims to have a 2,000 people strong pan-India sales and support network (Dec 2017).
COMMENT:
Mswipe claims to have a payment network reach of 2,46,000 terminals spread across more than 550 cities, with close to 80 percent of the customer base consisting of SME merchants typically supported by 1–30 employees. The turnover of these outlets is in the range of Rs 1 to 5 lakh a month. The annualized value of total transactions enabled by Mswipe across its network stands at Rs 9,560 crore. (June 2017)

MOMENTUM

FUNDED:
YES
TOTAL FUNDING:
$66 Millions
DATE OF LAST FUNDING:
Aug 2018
TOTAL FUNDING COMMENT:
The company plans to use the latest funds for expanding its product offerings to address the large SME financial services opportunity. (Aug. 2018)
FUNDING SERIES:
SERIES C
$25 Millions Closed: Jan 2015
SERIES D
$41 Millions Closed: Aug 2018
COMMENTS
SERIES D : An undisclosed amount of funds were raised by Epiq Capital.
LISTED:
NO

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