Citrus processes nearly USD 2 billion of gross merchandise value for ecommerce companies and has 15 million e-wallets on the consumer side, indiatimes.com reports. The present round of fund-raising is aimed at continued investment in innovations that will make merchant payments and mobile payments more convenient for consumers.
The company is led by Amrish Rau, and founders Satyen Kothari and Jitendra Gupta. The existing Japanese investors who have also participated in the current round are Econtext Asia and Beenos Asia, a subsidiary of Netprice, a Japanese ecommerce company.
Unlike other players in the digital wallet space, who have moved their focus to physical world payments, Citrus has remained focused on the internet world and growth in online payments.
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