India first stock exchange listed ecommerce platform Infibeam Avenues has now invested Rs 6 crore in the Instant Global Paytech, which is a Mumbai based payments solution provider.
Instant Global Paytech, which operates a Go Payments, will be going to use the capital to acquire new customers and merchants on its platform. Some of the parts of the fund will also be going to be used to ramp up its technology and to strengthen the team, the company revealed in a report.
Go Payments was founded in 2018 by the Daykin Creado and Vivek Patel. It provides the payment technology for the offline transactions by using the retailers and merchants to offer digital solutions to cash transacting the customers.
Go Payments financial services can also be used for bill payments, travel bookings, money transfers, and mobile recharge etc.
The platform also claims to connect up with the thousands of agents like the local entrepreneurs, mom and pop stores and kirana shops with the help of its payment solutions.
Infibeam which pivoted itself has two main offerings into the market as of now, BuildaBazaar, which is a Saas-based ecommerce solution, and a CCAvenue, that provides the payment solutions to India’s merchants.
The firm as of now has revealed to be higher in the transaction volume in the FY19. It has revealed a 128% growth to Rs 10245 crore which is as compared to the same period in the previous fiscal year.