Facebook co-founder invests in Indian payment startup Mswipe

Point of Sale Device

Facebook co-founder Eduardo Saverin investment firm B Capital  has stepped into India after it backed smart point-of-sale company Mswipe in its first deal in the country. The U.S.-Asia fund is investing $10 million into Mumbai-based Mswipe not missing out on the FinTech opportunity in India.

About B Capital
B Capital has a total fund size of around $180 million and offices in California and Singapore. Its deal to date have included logistics startup Ninjavan in Southeast Asia, Singapore’s CXA insurance firm, healthtech companies SilverCloud Health, Evidation Health, and Bright.md.

About MSwipe:
Founded: 2011
Founder/CEO: Manish Patel
Startup Type: Fintech
Customers: 280,000 merchants across India
Product Line: Point-of-Sale- Devices
Series D: $10M (Dec 2017)
Funds Raised: $65M as on Dec 2017

Other Players in this Space
PayTM
MobiKwik
EzeTap

Related Q&A:
How many Debit and Credit Cards used in India ?
900 Million

How many PoS terminals exist across India?
2.5 Million terminals

How many Smartphone users in India are Online ?
200 Million


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Tags: Fintech, mobile, wallet, payment, digital wallet, point of sale, startups, india,

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