India-based Mswipe Technologies raises USD 30 mln funding

Mswipe plans to have 1.5 million merchants on its platform by the end of 2019–2020 – from the current base of over 400,000 merchants.

The company has raised over USD 80 million from investors like B Capital, UC-RNT, Falcon Edge Capital, Matrix Capital Partners, and DSG Partners. Mswipe said it is currently piloting MoneyStore, a proprietary app store which will make available productivity apps like GoFrugal, Tally, ePaisa, and Pet Pooja, from over 30 Indian software developers for small retailers, on its WisePOS platform.

Moreover, the company will enable UPI QR code-based payment acceptance on its platform. This will enable merchants to use the Mswipe app to accept UPI QR code payments, check transactions and settlements, manage notifications, and record all their sales in a single location.