The recently gained funds will be used to expand Ezetap’s footprint in Asia-Pacific, Middle East and Africa. The company got its initial funding of US$3.5 million in 2012 from Paypal’s Peter Thiel, Chamath Palihapitiya of Social+Capital Partnership, PE player Nicolas Berggruen and David Sacks, Founder, Yammer .
Ezetap has received EMV-Level 1 Certification, a global certification for credit and debit payment cards. The Ezetap system has a card reader that can be connected to a smart device of a feature phone to convert it to an mPOS device.
With increasing number of smartphones and high usage of plastic money, disruptive mobile technology is needed. In the recent past, a number of mPOS organisations have managed to raised funding. Mswipe, a competitor of Ezetap, recently raised an undisclosed amount of funding from various investors, including Matrix Partners, Axis Bank. iKaaz, Eashmart, and emPay are a few other mPOS companies to raise funds in the last six months.
Ezetap was established by Abhijit Bose in 2012 and was initially funded by AngelPrime.