Welcome Guest

Businessex.Com
Home News EPS Pvt Ltd secures 33 crore funding from Asia Participation

EPS Pvt Ltd secures 33 crore funding from Asia Participation

Tags: EPS, FMO, Asia participation, Sanjay Kapoor, Prakash Joshi

December 20, 2013 | COMMENTS ( 0 )

EPS Pvt Ltd secures 33 crore funding from Asia Participation

Electronic Payment and Services Pvt Ltd has announced that it has secured 33 Crore funding raised from Asia Participation B.V.

 

This capital will be used for bringing innovations in the current business. Asia Participations B.V. has infused equity shares considering the prospective payment space in India. Prior to Asia Participations B.V., EPS has successfully raised two series of funds from Aavishkaar totaling to 53 Crore. Over a span of 14 months a total equity of 86 Crore has been infused into EPS in 3 phases.  

 

The Indian ATM industry is on upswing and in the long term, it has the opportunity of over a million ATM deployments, which will place it at par with developing economies, such as Brazil. As of today EPS has successfully installed 2520 ATM’s for the Public Sector Banks in Maharashtra.

 

“EPS has grown to be a strong player in the banking and payment industry with holistic outsourcing solutions and deliver tangible results for our customers.  The successful fundraising is a sign of confidence of our Investors in the company,” said Sanjay Kapoor, Promoter and Director of EPS.

 

EPS’s business strategy involves market penetrating through outsourced ATM services, EFT PoS outsourcing, switching for Payment Processing and related technology infrastructure services.

 

“EPS is extremely happy that the investors have shown trust in our team as well as ability to complete the MOF project. With the Government of India’s directives to install branch ATM, all the PSU banks are expected to deploy over 24000 ATM’s by March, 2014. This will ensure all the beneficiaries of Direct Benefit Transfer (DBT) to avail cash from ATM’s in urban as well as rural locations,” said Mr. Prakash Joshi, the newly appointed Chief Operating Officer of EPS, who brings rich experience in Profit Centre Operations, Sales, Business Development, Project Execution and Support Operations.

 

Electronic Payment and Services Pvt Ltd, a payment system company  set up in 2011 by industry veterans to serve the ongoing surge for better and effective payment services. While specializing in retail banking and technology domain, EPS manages end to end ATM operations by helping the banks to concentrate on hard core banking.     Electronic Payment and Services Pvt Ltd aims to become one of the leading service providers of electronic banking and payment services.

 

FMO is the Dutch Development Bank. FMO finances companies, projects and financial institutions from developing and emerging markets. FMO believes that entrepreneurship is key in creating sustainable economic growth and improving people’s quality of life. FMO is a sound financial institution with an AAA rating from Fitch Ratings and an AA+ rating from Standard & Poor’s. 

 

Please add your comment

Rating
Not readable? Change text.
Enter the characters as seen on the image (case insensitive)
  Notify me of followup comments via e-mail   Subscribe for daily newsletter

Other NEWS

Delhi based startup i2e1 raises $5,00,000

Delhi based startup i2e1 raises $5,...

December 10, 2015

Delhi-based i2e1, a smart network player platform which aims to provide low-cost and free internet to consumers and actionable ana....

Cab aggregators collaborate with state governments to boost entrepreneurship

Cab aggregators collaborate with st...

November 06, 2015

Ola and Uber, cab aggregators have signed agreements with Rajasthan government for skill development and creation of entrepreneuri....

Phase II of startup incubator T-Hub to be operational soon

Phase II of startup incubator T-Hub...

November 04, 2015

Telangana government is planning to expand T-Hub, its ambitious incubator programme, in its second phase with about Rs 150 crore i....

Sabse Technologies receives investment from Ratan Tata

Sabse Technologies receives investm...

November 04, 2015

Global telecom carrier, Sabse Technologies Inc, started by Hotmail Founder Sabeer Bhatia today announced that Tata Sons' Chairman ....

Mobile startup BlackNGreen seeks international expansion

Mobile startup BlackNGreen seeks in...

November 02, 2015

Buoyed by a strong demand for value added services, mobile startup BlackNGreen is eyeing revenue of Rs 350 crore in the next one y....

Startups seek better future under Hay Group's programme

Startups seek better future under H...

October 30, 2015

Global management consultancy, Hay Group will help 100 selected entrepreneurs transform their startups into successful companies o....

Quintype raises USD 3.25 million for product enhancement

Quintype raises USD 3.25 million fo...

October 27, 2015

Quintype, a data-driven publishing company raised USD 3.25 million to enhance product and business development. ....

Hospitality aggregator startup Qik Stay raises $250K

Hospitality aggregator startup Qik ...

October 27, 2015

Delhi-based Qik Stay, a hotel branding and aggregator startup, has raised $250K in seed round of funding from venture capital firm....

Milk Mantra targets a turnover of Rs 150 crore this fiscal

Milk Mantra targets a turnover of R...

October 26, 2015

Odisha-based startup dairy firm, Milk Mantra is targeting a turnover of Rs 150 crore this fiscal.....

Vista Rooms creates app on Instagram, targets tier II & III cities

Vista Rooms creates app on Instagra...

October 23, 2015

Mumbai-based online budget accommodation aggregator, Vista Rooms has created an app-like experience on Instagram where travellers ....

Jiyo Natural receives funding from Indian Angel Network

Jiyo Natural receives funding from ...

October 23, 2015

Indian Angel Network (IAN) has invested an undisclosed amount in Bengaluru-based consumer health food startup, Jiyo Natural.....

​​Vodoo raises USD 1 million from SAIF Partners

​​Vodoo raises USD 1 mi...

October 15, 2015

Deals and price comparison application, Vodoo has raised USD 1 million (around Rs 65 lakh) from SAIF Partners in a seed funding ro....

IBM launches public data centre in Chennai, partners with Nasscom to boost start ups

IBM launches public data centre in ...

October 15, 2015

Technology giant, IBM today launched public data centre in Chennai to tap into growing demand from financial services and governme....

For Nasscom, PPP will boost startups in India

For Nasscom, PPP will boost startup...

October 14, 2015

In the wake of some reservations over the central government creating startup funds, Nasscom's "10,000 startups" Vice President, R....

WalmartLabs to seek partnership with Indian startups

WalmartLabs to seek partnership wit...

October 14, 2015

WalmartLabs, the digital arm of US-based retailing major Walmart Stores, is scouting for startups in India for partnership and wor....