Visa invests alongside Mayfair 101 in PayMate US$25m round
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Online Investments Pty Ltd t/a Mayfair 101 (ABN 981 34 785 890) provides investment and corporate advisory services including funds management, asset management, capital raising, corporate advisory, M&A (merger & acquisition) advisory, and direct investment either directly or via its wholly owned subsidiaries.

 

Mayfair 101 is a Corporate Authorised Representative (CAR # 001274568) of Quattro Capital Group Pty Ltd (AFSL # 334653). Mayfair 101's authority under its Corporate Authorised Representative Agreement with Quattro Capital Group Pty Ltd is limited to the provision of financial services to Wholesale clients only pursuant to the Corporations Act (Cth), including advice relating to deposit products, foreign exchange contracts, derivatives, interests in management investment schemes, and securities.  Mayfair 101 and its wholly owned subsidiaries are not deposit-taking institutions in Australia or the United Kingdom and are not authorised to conduct retail banking activities as specified in the Banking Act 1959 (Cth). 

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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.