Mumbai based payment service provider Airpay Payment Services Pvt. Ltd has raised $36.7m in Series A funding led by by Kalaari Capital. Airpay is a payments platform through which enterprises can make and receive payments across channels including desktop, mobile and offline.
It allows clients to receive (from customers) and send (to vendors) payments over multiple platforms and through popular financial instruments such as credit and debit cards, online banking and mobile wallets. Airpay chief executive Amit Kapoor said the company plans to invest the new capital in technology development and building a larger sales and distribution team to increase clients, which include companies in hospitality, education, banking and retail. “Our differentiation is that we provide an integrated payments solution to large enterprises. There are few payment companies that focus on large enterprises and that gives us an edge. Plus, we provide a one-stop payments solution across channels that makes it very convenient for enterprises,” Kapoor said.