VC Fund Investments
B2B digital payments platform PayMate to raise $30-M from Crimson Ventures
Mumbai-based business-to-business (B2B) digital payment solutions provider PayMate is raising INR 261 crore (approximately USD 30 million) from Crimson Ventures.PayMate is to issue 38,22,432 non-cumulative participating compulsorily convertible preference shares at INR 684 each to raise INR 216 crore or USD 30 million.The company will use these proceeds to strengthen its market presence and capitalize on emerging opportunities for growth.PayMate streamlines transactions through commercial credit cards and bank partnerships. It helps businesses automate accounts payables and receivables while offering short-term credit for better cash flow management. The company earns through transaction fees, subscriptions, and financial services.
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