Mosambee offers a mobile Point-Of-Sale system that lets merchants sync Android smartphones with a Mosambee EMV device to read cards and perform real-time billing. The platform is currently available only on Android and supports major global card schemes including Mastercard, VISA, American Express, Diners and JCB, and leverages NPCI products. The company claims to have over 10,000 users across India. Mosambee plans to use newly raised capital to complete and enhance its product range and to expand further into overseas markets, having already implemented its strategy in four additional geographies. Founded in 2008 by Alok Arora, Bhushan Thaker and Sameer Chugh and headquartered in Mumbai, the company emphasizes expanding partner-led market presence abroad. Financially, Mosambee previously raised $1 million in February of the prior year. Mosambee is a Mumbai-based mPOS solution provider offering mobile point-of-sale products. It currently offers two solutions in India: a magnetic-strip solution and a chip-and-pin solution, the latter launched in Dubai in December 2012 and planned for India within 3–4 months. The company has piloted with a car rental and an insurance company and has acquired over 10 clients across Mumbai, Delhi, Chennai and Bangalore. Mosambee launched services in Dubai after a soft launch in India by September 2012 and plans an official India launch by April 2013. The roughly $1 million seed funding from SIDBI Ventures will be used for marketing and scaling of services. The company intends to expand to Southeast Asian and Western markets, build market-specific solutions for the West, and targets corporate customers rather than corner shops.

Total raised

$1M

Funding rounds

2

Latest round

Seed

Latest activity

Apr 2013