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Posts Tagged ‘ Citrus Pay ’

Why Freecharge badly needs a recharge

Thursday, October 13, 2016 | More »

The news report last week that Japanese telecom and internet conglomerate Softbank Group Corp is in talks to invest in FreeCharge was the third in as many months speaking of fund-raise efforts by ecommerce company Snapdeal for its digital payments arm. Around a month ago, two people in the know of d...


Online payments firm PayU to buy rival Citrus Pay for $130 mn

Online payments company PayU, owned by South African Internet conglomerate Naspers, has agreed to buy Mumbai-based rival Citrus Pay for $130 million (Rs 865 crore) in one of the largest takeover deals in India’s nascent but rapidly growing fintech sector. The deal will increase PayU’s India cust...

14 September, 2016 | More »


Why some investors are betting on competing businesses

Two weeks ago, Taiwanese chip designer MediaTek invested $60 million in One97 Communications, which runs Paytm, a mobile wallet platform and an online shopping site. In itself, the transaction is not unusual – Paytm is raising funds for growth and MediaTek is known for backing innovative firms. Wh...

12 September, 2016 | More »


Exclusive: Citrus Pay founder backs on-demand driver app Drivify

On-demand driver app Drivify, operated by Mumbai-based startup DR Mobility Solutions Pvt. Ltd, has raised $50,000 (Rs 33.75 lakh) in seed funding from Citrus Pay founder Jitendra Gupta and a high net-worth individual Pankaj Tripathi. Drivify joins half-a-dozen startups such as DriversKart and DriveU...

24 June, 2016 | More »


MobiKwik offers ‘profit’ to pique interest among wallet users

Digital wallet company MobiKwik, which last year missed the bus for a payments bank licence, has hurled a googly at its biggest rival Paytm by announcing an “annual profit” for its wallet users. Gurgaon-based One MobiKwik Systems Pvt Ltd, which has about 30 million wallet users and expects to in...

2 June, 2016 | More »


Sequoia Capital-backed Citrus Pay claims 8x growth in revenues; processing over 3M transactions per month

Sequoia Capital-backed Citrus Pay, which offers an online checkout and payment solution, claims to be processing over three million transactions on a monthly basis as compared to two million transactions in November last year. “In August 2013, we crossed the million transactions a month mark. By N...

28 May, 2014 | More »


Sequoia Capital-backed Citrus Pay launches ‘Death of Chutta’ app for P2P money exchange

Sequoia Capital-backed Citrus Pay, which offers an online checkout and payment solution, has launched an android and web application to address the problem of small denominations of cash and loose change. With this app- called Death of Chutta, users can load any amount of their choice (between Rs 1 ...

4 March, 2014 | More »