Mumbai: Mumbai based payment services startup, Airpay, has raised Rs 24 crore as part of a Series A round, led by Kalaari Capital and existing investors Rakesh Jhunjhunwala & Rajesh Jhunjhunwala.

Airpay founded by Amit Kapoor, Kunal Jhunjhunwala and Rohan Deshpande, experienced technology, operations and marketing professionals is an omnichannel payments company providing enterprise software as a service (SaaS) solution to its clients, to accept inbound payments from consumers (C2B) and process outbound payments to pay vendors (B2B).

“The sheer complexity of instruments and channels for payments in India demands innovative one-stop solutions such as those offered by Airpay. We are very excited to partner with them, as they are well positioned to capitalise on India’s reformed push towards a cashless economy,” said Rajesh Raju, MD, Kalaari Capital

The platform allows enterprises to accept payments from their clients across a plethora of touch points – web, mobile, call centre, IVR, email, SMS and face-to-face – via 100+ financial instruments. Airpay’s unique open architecture integrates seamlessly into the client’s ecosystem, offering real time visibility of payment collection and advanced analytics and reporting of user payment data.

“It is heartening to note that Airpay has scaled its throughput 14x over the last year. We welcome Kalaari Capital as a visionary investor who can add significant value to Airpaym,” said ace Investor Rakesh Jhunjhunwala.

The company plans to further invest into technology and build a strong sales, distribution and support infrastructure to rapidly expand its enterprise customer base.

Source: Times of India