India’s square, EZETap has secured $3.5mn funding from Paypal’s Peter Thiel, Chamath Palihapitiya (of Social+Capital Partnership), PE player Nicolas Berggruen and Yammer founder, David Sacks.
EzeTap was officially launched on September of this year and allows feature phones, smart-phones and tablets to be converted into full-fledged Point of Sale terminals by the addition of a secure, yet compact accessory – the Ezetap Card-Reader – which has been designed and manufactured in India.
Ezetap is co-founded by former Oracle and NGPAY executive & Harvard MBA, Abhijit Bose who is the CEO and Intel veteran Bhaktha Kesavachar, CTO; AngelPrime’s Managing Partner, Sanjay Swamy is the Chairman.
The service works with feature phones such as Nokia S40, as well as Android, Windows Mobile and Apple iOS platforms, and has already been piloted by leading merchants and is being offered by leading merchant acquiring banks in India. By electronically capturing signature, the service has eliminated the need for paper receipts – making for a customer-friendly and environmentally-friendly service.
Recommended Read: All you need to know about EZETap : Pricing Model, Hardware Capability