Funding Details: The company issued 747,000 compulsory convertible debentures (CCDs) at Rs 2,000 each, raising Rs 149.4 crore ($18 million). Alpha Wave contributed Rs 83 crore, while B Capital invested Rs 66.4 crore.

Valuation: The pre-money valuation stands at $290 million, a significant decrease from the $450 million valuation during the last equity fundraise in 2019.

Use of Funds: The funds will be used to meet working capital requirements, support business expansion, and for general corporate purposes.

Shareholding: Post-funding, Matrix Partners is the largest external stakeholder with 21.46%, followed by Alpha Wave with 10.43% and B Capital with 11.4%. Co-founders Manish Patel and Sheetal Patel hold 14.21%.

Regulatory Milestone: In February, Mswipe received a payment aggregator (PA) license from the Reserve Bank of India (RBI), enabling it

to offer full-stack payment solutions including point-of-sale devices, UPI, QR codes, and payment links.

Financial Performance: Mswipe's revenue from operations increased by 13.69% to Rs 274 crore in FY23 compared to Rs 241 crore in FY22, and its losses contracted by 45.36% to Rs 49 crore in FY23 from Rs 90 crore in FY22.