One97 Mobilty Fund has made investment in MobiSwipe Technologies, a mobile PoS provider. The amount of investment is undisclosed.
The funds raised by MobiSwipe will used be to scale up the company’s operation and to launch customized products for merchants. As a part of the deal, Vijay Shekhar Sharma will also join the MobiSwipe Board, according to medianama.com.
Founded by Suresh Santhanaramakrishnan and Harmeet Singh Arora, MobiSwipe is a mobile payment service provider that enable merchants to accept credit and debit card anywhere and anytime.
UTI Ventures Funds Management Company Private Limited, the private equity investment subsidiary of UTI Asset Management Co Pvt Ltd, has sold its stake in Ascent Capital Pvt Ltd to the management of the firm, which is headed by Raja Kumar.