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Startup funding

Trupay, Fintech startup raises $700K from Kae Capital, others

19th, July 2017    -    Startup funding

Trupay has raised Rs 4.5 crore (around $700,000) from a clutch of investors including Kae Capital.

Gurgaon-based Protinus Infotech Pvt. Ltd, which operates payment platform Trupay, was founded 2015 by Kumar and IIM Calcutta alumnus Rahul Gochhwal and IIM Bangalore graduate Vivek Lohcheb.

Trupay started as Peer-to-peer (P2P) payment platform that enabled users to send and receive money directly from their bank account by linking the mobile number. Later pivoted business model into developing payment solutions that help merchants do away with point of sale (POS) terminals.

The firm provides a plug-and-play payment platform that helps businesses transact with customers online or through mobile devices or in physical stores.

The company’s payment platform is used by merchants in sectors including e-commerce, healthcare, entertainment, hospitality, retail, jewellery and food & beverages, among others, according to its website. It aims to add around 1 lakh merchants to the platform by the end of this financial year.

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