Point of Sale software developer Zerone Microsystems has reportedly bagged $1.3m in its pre-Series A round, which was led by IAN.
Other participants include TCA and a number of angel investors, according to a report from BW Disrupt.
With the fresh capital, the company is looking to scale its offering and release additional features, including games, accounting and more.
The FinTech offers a downloadable point of sale platform that can transform any mobile app into a payment terminal. Through this merchants can accept mobile payments without the need of a new POS terminal.
Zerone Microsystems founder and CEO Jaijit Bhattacharya said, “In India, a total of 80 million people require digital payment acceptance terminal but only 4 million merchants have the hardware POS machine. So, there is a sizable unmet market demand existing.
“This is where ZupPOS plays an integral role. It is a ultra-low-cost digital payment solution for merchants and professionals that converts any smartphone into a payment terminal. We are delighted to have IAN and TCA on board as investors and will leverage the capital infusion to strengthen our platform in providing enhanced services to our users.”
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