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Mswipe Technologies is a technology company.
Mswipe Technologies has raised $136.9M across 6 funding rounds.
Mswipe Technologies has raised $136.9M in total across 6 funding rounds.
Mswipe, an RBI-approved payment aggregator in India, is a leader in omni-channel digital payment solutions serving merchants across largest cities and the smallest towns. Mswipe offers a full suite of payment solutions with frontend and backend technology.
Mswipe Technologies is a Mumbai-based fintech company founded in 2011 that provides omni-channel digital payment solutions, primarily point-of-sale (POS) devices and services enabling merchants to accept cards, wallets, UPI, contactless, and QR payments.[1][2] It serves small and medium merchants across India, solving the problem of seamless, affordable payment acceptance in a cash-dominant but rapidly digitizing economy, with products like Android POS terminals, soundboxes, and online payment gateways.[2][3] The company has raised $76 million across five funding rounds, employs around 506 people, and generates approximately $86 million in revenue, showing strong growth momentum including recent launches like the Boombox X1 POS-soundbox combo in 2024 and plans for over 2X growth in the next 18 months driven by festive demand and profitability targets.[1]
Mswipe began in 2011 with the launch of its first product, the Swiper for mobile card payments, addressing the need for simple card acceptance on smartphones in India's underserved merchant segment.[2] The Founder & Managing Director and Co-Founder & CEO led the charge, evolving from basic Bluetooth Chip & PIN mPOS in 2014 to advanced Android-based POS with NFC in 2016, and expanding into unified UPI, cards, and wallets by 2020 amid India's UPI boom.[1][2] Pivotal moments include entering smart payments in 2018, adding 4G mPOS and online gateways in 2021, and recent innovations like Wisepos GO portable POS in 2022 and Boombox devices in 2024, building early traction through merchant adoption in tier-2/3 cities.[2]
Mswipe rides India's UPI and digital payments explosion, where transaction volumes surged post-demonetization and COVID, making it a key enabler for merchants transitioning from cash to omni-channel acceptance amid 1.4 billion population's smartphone penetration.[1][2] Timing is ideal as government pushes for financial inclusion via UPI 2.0 and QR proliferation, with market forces like low-cost data and wallet interoperability favoring affordable POS providers over legacy players.[3] It influences the ecosystem by empowering 10+ million SMB merchants in underserved areas, fostering partnerships (e.g., B2B supply chain integrations), and driving profitability in payments, contributing to India's $1 trillion digital economy goal.[1]
Mswipe is poised for accelerated growth, targeting profitability by Q4 FY25 or Q1 FY26 and 2X expansion via execution on festive traction and new products like 2025's online gateway.[1] Trends like UPI international expansion (with dedicated head), embedded finance, and soundbox dominance will shape its path, potentially through SEA/Middle-East via leadership focus.[2] Its influence may evolve from POS pioneer to full-stack fintech, deepening merchant lending and global UPI plays, solidifying its role in democratizing payments for India's SMB engine.
Mswipe Technologies has raised $136.9M in total across 6 funding rounds.
Mswipe Technologies's investors include Falcon Edge Capital, B Capital Group, Trevor Folsom, DSG Consumer Partners, Ratan Tata, Axis Bank, Matrix Partners India, Meru Capital, Ola.
Mswipe Technologies has raised $136.9M across 6 funding rounds. Most recently, it raised $20.0M Other Equity in February 2024.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Feb 29, 2024 | $20.0M Other Equity | Falcon Edge Capital | |
| Feb 1, 2024 | $20.0M Venture Round | B Capital Group, Trevor Folsom | |
| Mar 1, 2019 | $31.0M Series E | B Capital Group, Trevor Folsom | |
| Dec 1, 2017 | $10.0M Series D | B Capital Group, DSG Consumer Partners | Trevor Folsom |
| Jun 21, 2017 | $31.0M Other Equity | Ratan Tata | |
| Jul 23, 2015 | $24.9M Series C | Axis Bank, DSG Consumer Partners, Falcon Edge Capital, Matrix Partners India, Meru Capital, Ola |