India: Payments firm EPS secures $25m in funding from UK’s Apis Growth Fund

Payment services provider Electronic Payments and Services (EPS) has raised $25 million in funding from UK-headquartered Apis Growth Fund, according to a report in The Economic Times.

The money will be used by the Mumbai-based firm to expand its existing network of ATMs and to fund future acquisitions.

Founded in 2011 by veterans from the banking, technology, retail, oil and gas industries, EPS specializes in the retail banking and technology domain and is highly adept at end-to-end ATM operations and outsourcing services.

The firm had deployed over 4200 ATMs in urban and rural locations, in union with the ministry of finance led mission for financial inclusion and Pradhan Mantri Jan Dhan Yojana (PMJDY) Scheme in India between 2012 – 2014, as per its website.

The firm is looking to install about 5,000-10,000 ATMs more in the next two years.

The firm raised over $5 million from Asia Participation BV, an affiliate of Netherlands-based entrepreneurial development bank FMO NV in December 2013. Prior to this, it also received Rs 53 crore from Aavishkaar Capital in two rounds.

Also Read: SIDBI’s VC arm invests in RCI Cash Management

India: GIC-backed Bandhan Bank crosses $757m in deposits; plans IPO in 2018

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.