IDG Ventures India, Jungle Ventures and India Quotient Back Momoe Technologies (Asia)
Source: VCCircle | Author(s): Hiral Trivedi
Venture capital firms IDG Ventures India, Jungle Ventures and India Quotient have invested INR74 million (approximately US$1.2 million) in India-based Momoe Technologies, the operator of a mobile payments application. The company, which is currently active in Bangalore, offers an app-based payment option where users can pay using a virtual wallet. It plans to expand to other cities across India.