Facebook co-founder’s B Capital leads $10M investment in Indian payment startup Mswipe

Tuesday, December 12, 2017

B Capital, the investment firm from Facebook co-founder Eduardo Saverin backed by BCG, 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 alongside DSG Consumer Partners in what is an extension to a Series D round announced this summer. Originally pegged at $31 million, the addition extends the round to more than $40 million.

Mswipe was founded in 2011 and it has now raised a total of $65 million from investors.

The company’s mission is to widen the availability of financial services in India, but rather than going after newer tech like consumer wallets, Mswipe has stayed focused on the humble point-of-sale device.

Photo courtesy of Images Money.

Source: TechCrunch (link opens in a new window)

fintech, venture capital