Paymate, an India-based B2B payments platform, has reportedly secured $25 million through its Series D funding round, which included participation from credit card giant, Visa, as well as other investors like Recruit Strategic Partners (Venture capital Arm of Recruit Co. Ltd. Japan), Brand Capital, existing investor Mayfair 101.
Founded in 2000, Paymate, which is on a mission to help users trade with the world, revealed it provides secure and internet-based payment services to buyers and sellers. The service is available to buyers in 60 counties around the world and sellers in Australia and New Zealand.
“At Paymate we partner with you to take care of the details. You can receive online credit card payments without an expensive merchant facility with a bank, a secure website or gateway processor service – Simply register online to start receiving payments! You can also use Paymate to make secure payments to any registered Paymate seller, without disclosing your personal or financial details. You can use a credit card to make a payment from any of 60 countries, in Australian Dollars, New Zealand Dollars, US Dollars, Euros and British Pounds.”
Speaking about the investment round, Ajay Adiseshann, Founder and CEO of PayMate, added:
“We are very excited to have Visa come onboard as an investor which will help complement our existing commercial partnership with them and help us scale faster by combining capital with Visa’s network. In addition, Recruit holdings from Japan, our existing investor Mayfair101 and Brand Capital’s participation in this round further validates our business model, traction and growth potential.”