Bangalore-based payment device maker Ezetap Mobile Solutions has raised undisclosed amount of funding from American Express to expand its services across Asia and Africa. Ezetap said that the funding investment is minor.
Founded in 2011, Ezetap is mobile point-of-sale provider which is actually combination of a device that reads credit and debit cards and an smartphone app, the device can be mounted on audio jack of any smartphone with Android OS 2.2 or higher.
Till date Ezetap has raised some $12 million in funding. Just a month back, Ezetap received venture funding of $8 million i.e. around Rs 49.8 crore in a Series B funding from a consortium of investors led by venture fund Helion Venture Partners.
Ezetap has also managed to get some prominent ecommerce portal of India in its clientele for cash-on-delivery payments and the clients includes Myntra.com, BookmyShow, RedBus.in and BigBasket.com. Delivery agents pf these e-commerce companies are empowered with the Ezetap device and delivery application to accept and swipe the cards of customers on mobile phones.
Ezetap is certified secure by the leading banks in India and abroad and is authorized for visa, mastercard and American Express cards.
As per reports Ezetap has deployed 12,000 devices across South East Asia and Africa and will use the funds to increase growth in these markets. It aims to take the total number of devices over 100K by next year.
Ezetap is Mobile startup incubated at Bangalore-based AngelPrime and till date has received funding from PayPal’s Peter Thiel and enterprise social network company Yammer cofounder David Sacks as well as billionaire Nicolas Berggruen’s private equity fund Berggruen Holdings.