Transerv raises $15 million in collection C funding from Micromax, others

Transerv offers Udio wallets, a platform for P2P (person-to-person) transactions including social gifting, ability to split bills and make group payments.

Transerv gives Udio wallets, a platform for P2P (individual-to-character) transactions along with social gifting, capability to split bills and make organization payments.
Bengaluru: digital payments business enterprise Transerv Pvt. Ltd has raised $15 million in collection Cinvestment led through IDFC Spice Fund, Micromax Informatics and different traders like Nirvana and Faering Capital India Evolving fund, the employer said in a statement on Tuesday.

The budget will be used in the direction of accelerating commercial enterprise growth and investing in new product strains, which includes micro credit, the business enterprise stated.

buyers are keenly tracking the present day trends in the fin-tech (financial generation) space and areconstantly in search of promising ventures to companion with. At TranServ, we’ve got constructed a billsbusiness that continuously makes a speciality of delivering the quality payment experiences and ourusual product method has worked nicely for us. We these days opened up our API solutions forcompanions and are already processing over Rs 100 crore in line with month within that product class,”stated Anish Williams, co-founder and leader govt, TranServ, in a declaration.

The corporation gives Udio wallets, a platform for P2P (individual-to-individual) transactions includingsocial gifting, capability to split payments and make institution payments.

Transerv currently entered the corporate area thru small value worker payments delivered even thoughits Udio app.

Handset maker Micromax had partnered with Visa and Transerv in advance this month to assist combine a new pockets presenting because the telephone maker seems to beef up its services commercial enterprise within the united states of america.

Fin-tech has attracted massive investor hobby nowadays. There are around a thousand fin-tech India and the size and volume of investments have grown inside the final twelve months. in step with information from begin-up tracker Traxcn, fin-tech startunited states of americain India raised $1.2 billion in 2015 compared to $a hundred and fifty five million in 2014. nearly 90% of the budget raised in 2015 was via Paytm (One97 Communications Pvt Ltd).

Even the number of startusawent up from 164 companies being founded in 2014 to round 260 startusabeing based in 2015. Fin-tech businesses raised at the least $20 million within the first months of 2016, in step with Tracxn information.

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