Citrus Pay receives second round of institutional funding

Citrus Payment Solutions has announced a new round of funding by a consortium of investors with experience in payments and ecommerce market. The funds will help Citrus increase its lead in the merchant payment solutions market, especially in mobile, and go forward with its plans for expansion into international markets.
 
Jitendra Gupta, CEO & Founder, Citrus Payment Solutions, said, “The team at Citrus has worked hard since  the launch and gone from 278 transactions in our first month in January 2012, to handling over 1.5 million transactions today and has a merchant base of 1,000+ Digital businesses on mobile and desktops. 2014, for the Citrus team, is all about providing our customers with newer solutions and better service."
 
“This new tranche of funding and the pedigree of our investors is a strong reaffirmation of our vision and a strong testament to the hard work of the entire Citrus team. We plan to use this as a launch pad to accelerate the Asian digital payments revolution. Our roadmap includes several innovative solutions, especially on mobile, that will excite consumers and merchants alike,” added Satyen V. Kothari, Chairman & Founder, Citrus Payment Solutions.
 
The new round includes investments from econtextAsia, Beenos and Sequoia Capital.