Tata Capital Growth Fund Leads a Series B Financing Round for Nearex (Asia)

Source: Tata Capital Private Equity

Tata Capital Private Equity, the private equity arm of Indian conglomerate Tata Group, has led a Series B financing round for Singapore-based mobile payments start-up Nearex. The transaction was structured through Tata Capital Growth Fund. Nearex specializes in mobile payments and mobile points of sale systems for emerging markets, and has been pilot testing in Tanzania and Zimbabwe. Financial details of the transaction were not disclosed.