Nexus Venture Partners announces leading the Series-B financing of mChek, mobile banking and payments service provider, earlier this year. With this, Naren Gupta, managing partner of Nexus Venture Partners has joined the board of directors at the company.
VCCircle was the first to report Nexus investment of around $5-8 million in a series-B round of funding in mCheck. The other existing investor Draper Fisher Juvertson (DFJ) also participated in the round.
mChek’s services support mobile banking, mobile payments and financial inclusion. The company is operational in India and Sri Lanka.
“The opportunity that mChek is looking to serve comes once in a generation,” said Gupta in a press statement.
mChek’s clientele includes ICICI Bank, HDFC Bank, Standard Chartered, Airtel, Visa, Tata Indicom, and online merchants such as FutureBazaar.com, HomeShop18, BigFlix.com, Indiatimes.com, SifyMall.com and Yatra.com.