Paynear Solutions Pvt. Ltd, a complete payment solution provider has raised pre-Series A funding of $ 2.5 million from serial investor Mr. Mitesh Majithia. Paynear aims to be the largest player in the merchant specific solution industry including payment processing.This will boost Paynear in raising the USD 10 million they plan to raise as Series A funding.
Paynear Solutions is a complete payment solution provider, enablingindividuals and businesses of all sizes to accept card payments for their business and providing a seamless customer payment experience. The company mission is to activate the second rung of the Indian market for card payments, enabling merchants to engage and reward customers through a host of unique solutions. In a short span of time of less than one year of their launch, they already have presence in 20 cities in India with more than 4000 active devices.
Paynear contributes to the vision of PM Modi for a less cashless society by enabling electronic payment to all industries and segment with an affordable, simple and secured solution
Commenting on this fundraising, Mr. Prabhu Ram (Managing Director Chief Strategy Officer at Paynear) said We are in a growth trajectory and this funding will help us in our expansion, increase our technical capabilities and also grow our sales. Consark Consulting Service, a Bangalore based boutique investment banking firm acted as an advisory for this investment. Mitesh has also joined our board as a Director and his experience will bring in immense value to our team and growth. We are also in the process of raising the next round of funding.
Mr. Mitesh added mPOS and mobile payments are the next big thing and have a huge market potential in the Indian payment scenario. Paynear expertise in payment industry will revolutionize the way payments are made in India.
About Paynear Solutions Pvt Ltd Founded in 2013,
with its headquarters in Hyderabad, by a team of highly experienced and entrepreneurial professionals with a decade of experience in the payment merchant centric industry, Paynear set out with the goal to provide a secure and streamlined customer payment experience for all industries, through itswide range of innovative and reliable payment solutions. Paynear Omni channel package consists of mPOS solutions, CRM and payment gateway, designed to simplify payment processing. Its products Paynear mPay; is a mobile point of sale solution (mPOS) especially designed for merchants and businesses of all sizes and verticals, whereby merchants can start accepting credit/debit cards anywhere, anytime, through their Smartphones/Tablets and PC. Yet another revolutionary product is Paynear SPOT; which is a one-stop solution for recharges, bill payments and much more. With SPOT agents can recharge their customer prepaid mobiles, DTH, data cards, pay postpaid mobile bills, pay insurance policies and various utility bills and much more.
Resource :http://www.moneycontrol.com/news/sme/paynear-raises-3625-millionpre-series-a-funding_4599001.html
Paynear Solutions is a complete payment solution provider, enablingindividuals and businesses of all sizes to accept card payments for their business and providing a seamless customer payment experience. The company mission is to activate the second rung of the Indian market for card payments, enabling merchants to engage and reward customers through a host of unique solutions. In a short span of time of less than one year of their launch, they already have presence in 20 cities in India with more than 4000 active devices.
Paynear contributes to the vision of PM Modi for a less cashless society by enabling electronic payment to all industries and segment with an affordable, simple and secured solution
Commenting on this fundraising, Mr. Prabhu Ram (Managing Director Chief Strategy Officer at Paynear) said We are in a growth trajectory and this funding will help us in our expansion, increase our technical capabilities and also grow our sales. Consark Consulting Service, a Bangalore based boutique investment banking firm acted as an advisory for this investment. Mitesh has also joined our board as a Director and his experience will bring in immense value to our team and growth. We are also in the process of raising the next round of funding.
Mr. Mitesh added mPOS and mobile payments are the next big thing and have a huge market potential in the Indian payment scenario. Paynear expertise in payment industry will revolutionize the way payments are made in India.
About Paynear Solutions Pvt Ltd Founded in 2013,
with its headquarters in Hyderabad, by a team of highly experienced and entrepreneurial professionals with a decade of experience in the payment merchant centric industry, Paynear set out with the goal to provide a secure and streamlined customer payment experience for all industries, through itswide range of innovative and reliable payment solutions. Paynear Omni channel package consists of mPOS solutions, CRM and payment gateway, designed to simplify payment processing. Its products Paynear mPay; is a mobile point of sale solution (mPOS) especially designed for merchants and businesses of all sizes and verticals, whereby merchants can start accepting credit/debit cards anywhere, anytime, through their Smartphones/Tablets and PC. Yet another revolutionary product is Paynear SPOT; which is a one-stop solution for recharges, bill payments and much more. With SPOT agents can recharge their customer prepaid mobiles, DTH, data cards, pay postpaid mobile bills, pay insurance policies and various utility bills and much more.
Resource :http://www.moneycontrol.com/news/sme/paynear-raises-3625-millionpre-series-a-funding_4599001.html
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