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India's first listed eCommerce platform Infibeam registered as Infibeam Avenues Ltd has acquired Bengaluru-based Cardpay Technologies Ltd. Cardpay offers a unified spend management platform to corporates under ''GRIT'' brand name with physical and virtual credit cards, invoice processing and early payment discounting. The deal has taken place at an initial cash consideration of $59,613 (Rs 45 lakh). “There would be a reward incentive mechanism to the management of the target company (Cardpay) up to rupees equivalent to USD 1 million, based on performance parameters of the target company, as mutually agreed," Infibeam said in a statement. "The acquisition of Cardpay strengthens Infibeam's Payments credit services business with a comprehensive credit issuance portfolio including ...

A Hong Kong-based startup Neat that offers startups and SMEs access to credit cards and banking services has secured funds amounting to $3 million in a fresh funding round. The particular round was led by China-based VC Linear Capital. The round also saw participation from Hong Kong’s Sagamore investments and existing backers Dymon Asia Ventures and Portag3 Ventures. Prior to this, the company raised $2 million seed round earlier this year. The company basically provides quick access to prepaid Mastercard-based cards and basic banking services. Cards are charged at around $7.50 per month, with varying prices on incoming, outgoing and international payments. Along with this, there is also a consumer option, which is much like European startups Monzo, Starling and Revolut, but Neat ...

Tag: credit cards

Infibeam Acquires Cardpay Technologies for $59k

Mobile Banking Startup Neat Secures $3 Million in Fresh Funding