Mswipe raises $30 million in Series E round from existing investors

Mswipe Technologies Private Limited, a point-of-sale network provider, said that it has raised $30 million in a Series E funding round from existing investors Falcon Edge, B Capital, Epiq Capital and DSG Growth Partners. The company aims to have 1.5 million merchants on its platform by the end of FY 2020. Apart from expanding its existing line of mPOS terminals, the company is driving forward on two new initiatives – smart POS terminals and UPI QR codes. It would use the funding to deepen these initiatives, which are already underway. Currently, the company has over 400,000 merchants on its platform.

“2019 marks our move into the next orbit of growth. We expect to be serving well over a million merchants by this time next year, making us one of the largest and most capital efficient merchant acquirers in the country,” said Manish Patel, founder and CEO, Mswipe.