Mswipe is an Indian fintech company that builds low-cost point-of-sale terminals designed to work on limited internet connections, including 2G. It claims to have reached over 400,000 merchants, up from 290,000 at the end of 2017, and aims to grow to 1.5 million merchants within the next year. The company is developing an Android-based smart POS called WisePOS Plus to host billing, inventory and logistics applications. Mswipe is also building an app store, MoneyStore, to house productivity and payments-related apps for small retailers. It is preparing to enable UPI QR payments on its terminals and has partnered with lending startup Cashe on a co-branded consumer card. CEO and founder Manish Patel argues terminals remain essential in India and the company focuses on cheaper, more connectivity-resilient devices to drive adoption. Mswipe builds lightweight, affordable point-of-sale (POS) devices that bypass traditional middlemen and prioritize reliability (they work on basic 2G connections). The company focuses on under-represented SMEs and mid-sized retailers while also serving larger customers, and offers inventory management and SME financing in addition to payments. Mswipe's POS terminals accept cards and digital wallets including UPI, Google Tez and Samsung Pay. The firm emphasizes increasing card acceptance across India as a path to broader financial inclusion. Mswipe currently reports POS devices deployed with over 290,000 merchants and 15,000–18,000 new signups each month, and the CEO expects to move from fifth to fourth place in the industry within months. To date the company has raised $65 million in total funding.

Total raised

$40M

Funding rounds

2

Latest round

Series E

Latest activity

Apr 2019