Ezetap has raised Rs. 150 crores in fresh funding.
Ezetap’s current investors; Social+Capital, Helion Advisors, and Berggruen Holdings are joined by Horizons Ventures, the private investment arm for Li Ka-Shing, and the Capricorn Investment Group in this round.
Social+Capital founder Chamath Palihapitiya will become Chairman of Board – the first time the former Facebook executive has taken on this role with a portfolio company outside the United States (Chamath’s Social + Capital is also the lead investor in Prime Ventures, the fund behind Ezetap).
Started in 2011 and launched in 2013, Ezetap has deployed over 60,000 new points of sale across India in under 30 months. Ezetap processes transactions worth over $1 million per day and has a customer base ranging from the most well known enterprises to tens of thousands of small retail businesses.
Plus, Ezetap is activating over 500 new small retail merchants a week and will use some of its funds to increase that by 5X in the next few months.