Visa invests alongside Mayfair 101 in PayMate US$25m round
Updated: Nov 13, 2019
Global Digital payments company PayMate India has announced plans for global expansion with its series D fundraising round, led by Mayfair 101.
Mayfair 101’s Group Managing Director James Mawhinney advised that credit card payments giant Visa and Japanese investor, Recruit, will also participate in the US$25m fundraising round for PayMate.
Mumbai-based PayMate helps businesses automate and digitise their payments and due to significant growth have seen an increase of over 400% in revenue.
''When we first engaged with the company their transaction volume was just north of US$1bn and we're pleased to say that in the most recent financial year they had processed a total of US$5bn in payments.’’
“1.4 billion people live in India that’s a quarter of the worlds population, you can’t deny that there is significant growth potential there”, said Mr Mawhinney.
PayMate play a pivotal role in supporting the growth of developing economies, Mayfair 101 is delighted to return for a third time to lead their series D fundraising round.