Mswipe is a leading digital payment and financial solutions company supporting the growing merchant community across India. Their product suite consists of various POS terminals, from portable palm-size devices to various Smart POS options, QR Code, and the latest launch Boombox that provides alerts via sound and display to merchants. Mswipe is known for launching multiple industry-first products.

With the participation of current investors, Mswipe Technologies has raised a $20 million growth equity round led by Alpha Wave Global. The Reserve Bank of India (RBI) has granted the digital payments company a licence to operate as a payment aggregator (PA). It's important to note that the Mumbai-based company has not received investment in nearly five years. Several well-known investors, including Matrix Partners, B Capital, DSG Consumer Partners, Epiq Capital, UC-RNT, and Ola, have contributed more than $125 million to the firm to date. According to a news release from the company, the new funding would enable Mswipe to grow its merchant payment network and enhance its technology infrastructure and product development. Mswipe provides a host of offline and online payment acceptance solutions, including point-of-sale devices, UPI, quick response codes and payment links to help offline merchants receive payments digitally. As mentioned above, Mswipe was recently granted the PA licence, which now enables the firm to provide full-stack payment technology providing omni-channel solutions. The PA license solidifies the company’s objective to enhance its suite of offerings while delivering secure payment technology to banking partners, enterprises, and merchants across categories, Mswipe had said in a statement. According to a statement from Mswipe, the PA licence confirms the company's goal of improving its range of products and providing safe payment technology to businesses, banks, and retailers in all categories.

Now, Mswipe has joined the ranks of companies that have recently been given permission by the RBI to function as online payment aggregation platforms, including Zomato, Decentro, Zoho, Juspay, Razorpay, Cashfree, Open, and Enkash. According to a startup data intelligence platform, Mswipe's operational revenue climbed from Rs 241 crore in FY22 to Rs 274 crore in FY23, a 13.69% rise. From Rs 90 crore in FY22 to Rs 49 crore in FY23, its losses decreased by 45.36%. For the last five quarters, the company says, it has been profitable at an EBITDA level.