Google, Rakuten Capital, others invest $12 mn in payments firm Twid

Twid, a payments platform that allows its users to collect and exchange rewards from apps you subscribe to, on Wednesday said it has raised $12 million (around Rs 90 crore) in a Series A funding round led by Rakuten Capital. Several new investors including Google, ICMG Partners, JAFCO Asia, January Capital and Reddy Futures Fund participated in the fundraising.

Launch Bangalore -based open programs to order a new revenue to measure and create a retail network and supplier, expand products, create technical skills.AdvertiseFounded by Amito Goshal, Rishi Badra and Amitra by 2020, Dwight allows users to rise to their estimates, which can be used as the cost of service costs. It also analyzes customer behaviour and spending patterns to provide predictive solutions for its customers.

We bring together various industry stakeholders and guide them towards a cashless ecosystem and future. With the ubiquitous flexibility of rewards points, we are seeing much higher customer satisfaction. Customers can keep track of their points and save, earn and pay each time they use Pay with Rewards. This reaffirms our approach to deliver long-term value to merchants, suppliers and customers,” said Amit Ghoshal, Founder and CEO of Tweed.

Rakuten Capital sees enormous potential and future synergies in this investment. Our global membership products are developed by Rakuten India in Bengaluru,” said Sunil Gopinath, CEO of Rakuten India. Last July, Tweet raised $2.5 million from BeanExt and Sequoia India’s Surge. Rakuten Capital is the venture capital arm of Japanese e-commerce giant Rakuten. The fund will focus on investing in multiple industries and regions of “strategic importance” to Rakuten. The payment solutions space in India has been attracting the attention of investors for some time now.

In June, Bangalore-based cross-border payments startup PayGlocal raised $12 million in Series B funding led by Tiger Global and Sequoia Capital India. In January, US-listed payment solutions provider Pine Labs Pvt Ltd raised $20 million in new investment from the State Bank of India.

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Sharanya Sinha

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