Mumbai, Jun 12 Financial technology firm, ftcash, has launched its mobile point of sale (mPoS) services for small and medium automobile service centers.
With the new facility, over 500 auto centers across the country, which have adopted the ftcash technology, can receive payments with a bank account and a feature phone, the company said in a statement here today.
By facilitating financial transactions over a digital medium, ftcash claims it has empowered over 5,000 small businesses and micro-merchants across the country to transact online.
The platform also assists MSMEs, home-based entrepreneurs, and mom-and-pop stores to secure working capital and small-ticket loans for day-to-day operations from financial institutions.
PeeSafe raises $1mn in funding led by Venture Catalysts,others
Angel investors who participated in the round include Harshita Mehta Jain, vice president at Redcliffe Capital, Amit Choudhary, partner, Motilal Oswal Private Equity and Govind Rajan Parthasarthy, former CEO of Freecharge, among others.
FMCG distribution companies like Quadrant also participated in the round driving retail distribution across one lakh stores, a company statement said.