TranServ receives $15 Million in funding From Micromax, Others

TranServ Gets $15 Million in Funding From Micromax, Others

digital payments organisation TranServ Tuesday stated it has closed an funding of $15 million (aroundRs. 100 crores) in a series C spherical of funding led by way of IDFC SPICE Fund and Micromax Informatics in conjunction with existing investors Nirvana and Faering Capital India Evolving Fund.

The business enterprise will utilise the capital closer to accelerating commercial enterprise growth andmaking an investment in new product traces together with micro credit, it stated in a announcement in Mumbai.

“TranServ, currently unfolded API solutions for partners and is already processing over Rs. one hundredcrore according to month inside that product class,” Anish Williams Co-founder and leader govt of TranServ said.

submit this round of funding, we can be exploring growth possibilities thru both organic and inorganic modes,” he delivered.

Williams similarly claimed the employer had visible transactions grow at 300 percentage within the pastyear and the intention for this fiscal is to retain growing at between 300 to 500 percentage in keeping with annum even as maintaining unit economics.

The these days announced partnership with Micromax will assist completely redefine cellular bills for Micromax customers and help TranServ reach modern-day patron segments across the country, theorganization said.

TranServ these days forayed into the corporate space thru its small fee worker payments introduced thruthe Udio app and is trying to capture 35 percent of the marketplace with the aid of the stop of thecutting-edge financial.

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Tags: Apps, net, Micromax, TranServ

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