- Omni-Channel Payment Startup, Airpay Payment Pvt Ltd has managed to raise Rs.25 Crore of Series A funding from Venture Capital firm Kalaari Capitals. The funding round is also supported by existing investors Rakesh Jhunjhunwala and Rajesh Jhunjhunwala.
The Mumbai-Based startup was founded in the year 2012 by Rohan Deshpande, Kunal Jhunjunwala and Amit Kapoor. Airpay works on SaaS product offers online payment gateway solutions for e-commerce and retail markets in India. They provide solutions like PCIDSS Compliant IVR Payment Gateway, net banking, and mobile Point-Of-Sale systems. Previously, all the co-founders worked together in an online music streaming company, Hungama.
Amit kapoor, Chief Executive Officer of Airpay, said: “Our differentiation is that we provide an integrated payments solution to large enterprises. There are few payment companies that focus on large enterprises and that gives us an edge. Plus, we provide a one-stop payments solution across channels that makes it very convenient for enterprises.”
Airpay’s features include best-in-class RMS system integration, single-window transaction settlements, dynamic payment gateway switching, transaction reconciliation, customer support and more. They provide multiple platforms for their users to make money transaction through reputed banks.
Kalaari is a venture company investing in technology-related companies in India. The venture capital has made the total of 103 investments in 64 companies. They had invested in India’s top startup like Snapdeal, Myntra, UrbanLadder, Zivame, CureFit and much more. Recently, a week ago fashion-lifestyle startup POPxo has received Series B funding from the Kalaari Capital.
Commenting on the investment, Rajesh Raju, Capital Managing Director at Kalaari said: “The sheer complexity of instruments and channels for payments in India demands innovative one-stop solutions such as those offered by Airpay.”
Airpay has the total employee base of 50 members. All the operations are taken place at their office in Mumbai. The startup will use the fresh funds in technology development, expansion of product and hire new talent. Read more About Indian Startup.