Bengaluru-based Ezetap Mobile Solutions today said it has raised Rs 150 crore from Horizons Ventures, Capricorn Investment Group and existing investors.
"Ezetap's current investors -- Social+Capital, Helion Advisors and Berggruen Holdings -- are joined by Horizons Ventures, the private investment arm for Li Ka-Shing, and the Capricorn Investment Group in this round," Ezetap said in a statement.
Social+Capital founder Chamath Palihapitiya will take over as the Chairman of Ezetap's board, it added.
Founded in 2011, Ezetap's solution has been deployed at over 60,000 new points of sale across India in under 30 months. It processes transactions worth over USD 1 million per day.
"Ezetap is already activating over 500 new small retail merchants a week and will use some of its funds to increase that by 5 times in next few months," it said.
The company has partnerships with banks, including Citibank, HDFC Bank and American Express, who is also an investor in the company.
Most recently, it has signed State Bank of India as its mPOS partner in order to help scale electronic payments and banking services to every corner of the country.
"This funding, along with Chamath's active guidance from scaling Facebook, gives us the fuel to help Ezetap realise our vision and massive potential," Ezetap co-founder and CEO Abhijit Bose said.
