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India’s Mswipe raises $20m in primary growth equity capital

By Gloria Mathias

February 28, 2024

  • Alpha Wave Global
  • B Capital
  • DSG Consumer Partners
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Mswipe, Payments, Payments Solutions, Fintech News, Payments Technology, India News, India Fintech News, RBI, Payments aggregator license, Fintech Funding, Fintech India, Mswipe Technologies, one of India’s digital payments companies focused on SMEs, has raised $20 million in primary growth equity capital from its existing investors.

Mswipe’s key investors include Alpha Wave Global, Matrix Partners, B Capital, DSG Consumer Partners, Epiq Capital, UC-RNT, and Ola.

This growth equity round will enable Mswipe to increase its merchant payment network and further strengthen its product development and technological infrastructure.

Mswipe has recently received a payment aggregator licence from the Reserve Bank of India (RBI). With this, Mswipe is poised to provide comprehensive payment solutions across both the digital offline and online channels. The payment aggregator license solidifies the company’s objective to enhance its suite of offerings while delivering secure, efficient, and user-friendly payment technology to banking partners, enterprises, and merchants across categories.

With this, Mswipe will offer full-stack payment technology, providing omni-channel solutions, thereby continuing to contribute towards India’s evolving digital payments landscape.

Mswipe Technologies reiterates its dedication to innovation. With a focus on delivering solutions, Mswipe remains committed to fostering strong partnerships with banking institutions, enterprises, and stakeholders.

Over the last 13 years, with a merchant network exceeding half a million, Mswipe has been a pioneer in introducing businesses and merchants to multiple innovative payment solutions, thereby enabling the expansion of the digital payment footprint across metros, mini-metros, small towns, and cities in the country. The company has been profitable at an EBITDA level for the last five quarters.

Mswipe Technologies is an omni-channel digital payments platform providing a host of offline and online payment acceptance solutions to merchants across categories and all regions. Headquartered in Mumbai, Mswipe began operations in 2011.

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