Ola-backed Mswipe has secured funding in a series C round that enabled another strategic investor, Axis Bank, to exit.
Mswipe Technologies, an India-based mobile payment platform developer backed by ride hailing platform Ola, has raised $31m, the Economic Times reported yesterday.
The round was led by UC-RNT Fund, a joint venture between entrepreneur Ratan Tata and the University of California, and included unnamed existing backers that could include Ola, Falcon Edge Capital, Meru Capital, DSG Consumer Partners and Matrix Partners.
Founded in 2011, Mswipe has created a mobile card reader that attaches to a smartphone, enabling vendors to accept…
