Mswipe Technologies has closed a $20 million primary growth equity capital round, drawing support from its existing investors. The funding will be utilised to expand the merchant payment network, reinforce product development, and enhance technological infrastructure, a statement from the company notified.
The firm, however, has not disclosed the specific names of the investors.
At present, its investors are Alpha Wave Global, Matrix Partners, B Capital, DSG Consumer Partners, Epiq Capital, UC-RN and Ola.
The statement further said, “Over the last 13 years, with a merchant network exceeding half a million, Mswipe has been a pioneer in introducing businesses and merchants to multiple innovative payment solutions, thereby enabling the expansion of the digital payment footprint across metros, mini-metros, small towns and cities in the country. The company is profitable at an EBITDA level for the last five quarters.”