Ezetap raises funds from American Express

Bangalore-based mobile point of sale start-up, Ezetap, announced on Thursday (March 20) that it had raised minority investment from credit card company American Express. The company had also recently raised $8 million in funding from Helion Advisors, Silicon Valley-based Social+Capital Partnership, and Berggruen Holdings. The emerging markets focused company was co-founded in 2011 by Abhijit Bose, CEO,  BhakthaKeshavachar, CTO and Sanjay Swamy, Chairman who earlier served as CEO of mobile payment company mChek.   

Ezetap's payment solution for merchants comprises a card reader which can connect to mobile devices through Bluetooth or USB and a mobile application. The start-up which now works with leading ecommerce companies, bill payments and collections fims, insurance, FMCG, restaurants and hospitality, retail and taxi services has deployed over 12,000 devices across South East Asia and Africa and plans to use the funds to accelerate global growth across Asia and Africa. The company expects to cross 100,000 devices in the next 12 months. With the new deal, merchants in India can activate American Express on new or existing Ezetap devices by signing up through American Express' sales team or directly from Ezetap.