MicroMax co-led the digital payment technology provider's series C round, which will go to hiring, product development and the introduction of microcredit.
India-based digital payment processor TranServ has raised Rs 1bn ($15m) in a series C round co-led by consumer electronics manufacturer Micromax Informatics, the Economic Times reported on Monday.
The round was co-led by IDFC Spice Fund, the venture capital arm of infrastructure finance provider IDFC, and also included existing investors Nirvana Venture Advisors and Faering Capital India Evolving Fund.
Transerv’s technology can be integrated into merchants’ own systems, enabling them to accept digital payments. The company, which claims to have…
