Home » FYI » Paynear Solutions Raises $2.5 Million In Pre-Series A Funding From Mitesh Majithia

Paynear Solutions Raises $2.5 Million In Pre-Series A Funding From Mitesh Majithia

Company Name : Paynear Solutions
Funding Amount : $ 2.5 million
Investor(s) Mitesh Majithia . .
Funding Round : Pre-Series A


Founded in 2013, Paynear Solutions a complete payment solution provider has raised pre-Series A funding of $ 2.5 million from serial investor Mitesh Majithia.

Paynear’s Omni channel package consists of mPOS solutions, CRM and payment gateway, designed to simplify payment processing. Its product Paynear ‘mPay’ is a mobile point of sale solution (mPOS) especially designed for merchants and businesses of all sizes and verticals.

prabhu ram

The Hyderabad based company has a presence in 20 cities in India with more than 4000 active devices.

Prabhu Ram, Managing Director & Chief Strategy Officer at Paynear, said, “We are in a growth trajectory and this funding will help us in our expansion, increase our technical capabilities and also grow our sales. Consark Consulting Service, a Bangalore based boutique investment banking firm acted as an advisory for this investment. Mitesh has also joined our board as a Director and his experience will bring in immense value to our team and growth. We are also in the process of raising the next round of funding.”

Subscribe to the newsletter.