TechCrunch March 20, 2014
Ezetap, a Bangalore-based mobile payment startup that uses a rectangular device to turn any mobile phone into a point-of-sales terminal when plugged in, is raising additional funding from American Express. Last month, the startup had raised $8 million in Series B funding led by Helion Advisors, Social+Capital and Berggruen Holdings.
“The investment will allow us to turn on additional value added services such as loyalty and rewards that will delight users and change the entire payment experience for end consumers,” Ezetap co-founder Abhijit Bose said in a statement.
The companies did not disclose the quantum of funding, but added in a statement that “it’s a minority investment” by American Express. The total capital raised by Ezetap to date is around $11.5 million (including $3.5 million it had raised in Series A funding in November 2012).
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