iKaaz Raises raises seed Funding

Bangalore based mobile payments solution provider iKaaz has raised seed investment from the group of investors led by Ananda Kallugadde, managing director of NeoBytes Software Solutions.

The company plans to utilize the funding raised towards its expansions primarily in India and Africa.

The company is now in the process of raising Series A round of 5M USD.

iKaaz has a comprehensive “Tap & Pay”  product portfolio, which transforms any mobile phone, irrespective of the type of device or the mobile operator, into a cashless payment terminal by placing an iKaaz NFC tag on it. One can create a mobile POS terminal without huge investments in POS equipment, give customers the benefit of secure, cashless payment for their everyday shopping at your outlet using their mobile phones.

“Currently mobile wallets are mostly apps that can be downloaded and used on smartphones or with lots of manual steps involved in making a transaction. However, in that form the mWallets are not very consumer friendly in a retail payment scenario. With the iKaaz NFC solution, the same mWallets can now bring an extremely simple tap & pay experience which is a compelling proposition for merchants and consumers alike. The beauty is in its simplicity and supports all phones”, says Soma Sundaram, who founded iKaaz in 20

Note: We at Inc42 take our ethics very seriously. More information about it can be found here.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

Unlock 60% OFF
Cancel Anytime
Unlock 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

iKaaz Raises raises seed Funding-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

iKaaz Raises raises seed Funding-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

iKaaz Raises raises seed Funding-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

iKaaz Raises raises seed Funding-Inc42 Media
iKaaz Raises raises seed Funding-Inc42 Media
You’re in Good company