Citrus Payment Solutions has confirmed raising Series C funding led by Ascent Capital and existing investor, Sequoia Capital, with participation from other existing investors, Beenos and eContext Asia. It will use the funds for strengthening its technology and build products for mobile payments. It will also partner with brands to build its consumer and merchant database. An ET report pegs the Cirtrus funding at $25 million, though there is no confirmation from the company on the amount raised. Citrus currently partners with Jet Airways, PVR, TinyOwl and Grofers. The company says that over 15 million users use Citrus to transact online, and its Citrus Cube app which offers personal bill management, sees 10 million transactions monthly. As of last month, Citrus claims to have 17 million users and a merchant network of 6,000 online businesses. Read More
NEW DELHI: Payment solutions company Citrus Payment Solutions has raised about $25 million (about Rs 162 crore) from a consortium of new and existing investors, the latest transaction in the country's payments sector, which continues to see risk capital queue up to participate in the red-hot segment. Sequoia Capital, an existing backer of Citrus Payment, and new investor, mid-to-growth stage private equity firm, Ascent Capital, have led the Series C round of funding in the Mumbai Read More
Software development company Robosoft has raised a Series B funding of ~$12 million from Ascent Capital and existing investor Kalaari Capital. Ascent led the round with ~$10 million while the rest came from Kalaari. Rohit Bhat, CEO and MD of Robosoft said that the funds will go towards scaling across segments, investment in products, user acquisition and expanding their offerings. Post this round, subsidiaries 99Games and Global Delight will become new companies, which need not depend on Robosoft for funding. Robosoft also plans to build near-shore capability in the US, Europe and Middle East and strengthen its enterprise mobility offering/practice. This makes sense for the company since most of its business comes from the US. Read More
Robosoft Technologies Pvt Ltd, a third party mobile app developer as well as publisher of its own mobile games, has raised $12 million (Rs 75 crore) in what is a Series B round led by private equity firm Ascent Capital.  Read More