Zerone raises Rs 9 cr from Indian Angel Network, others

Zerone raises Rs 9 cr from Indian Angel Network, others

Financial technology startup Zerone Microsystems on Tuesday said it has raised USD 1.3 million (around Rs 9 crore) in a funding round led by Indian Angel Network (IAN) with participation from IAN Fund and TCA.

The funds were raised in pre-series A funding round.

The company claims to have over 30,000 merchants from Ladakh to Nagaland and from Jammu & Kashmir to Andaman Islands using its service.

“We are delighted to have IAN and TCA (The Chennai Angels) on board as investors and will leverage the capital infusion to strengthen our platform in providing enhanced services to our users,” Zerone Microsystems founder and CEO, Jaijit Bhattacharya said in a statement.

The startup has developed a cloud-based software based point of sale solution called Bharat ZupPOS. It claims to convert any smartphone into a payment terminal and allows merchants to accept payment from credit cards, debit cards, and UPI apps such as BHIM without any additional hardware.

“We are really excited with the excellent team of Zerone…and look forward to helping make this another successful company from the IAN stable,” IAN co-founder Padmaja Ruparel said.

Zerone is now planning to broaden its offerings with interactive features such as games, news as well as accounting, according to the statement.

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