New Delhi and Amsterdam-based online payments and eCommerce solution provider startup, Newgen Payments has raised an undisclosed amount of funding in angel round from Jan Manten, Founder & former CEO of GlobalCollect. The raised funding will be used to upgrade its technology as well for increasing the company’s sales.
Founded in 2014 by Founder and CEO Sunil Jhamb, Newgen’s platform lets merchants to create an online and mobile eCommerce presence. It helps its clients by designing their websites, providing development & hosting services, and simplifying the checkout process by offering the payment options.
The company’s analytics software claims to boost sales, ensures website security and optimizes shipping options. Its cloud-based payment gateway which is built on the Microsoft Azure platform, enables merchants to accept payments securely from their website or app.
Talking about the company’s mission, Sunil Jhamb says, “Our international team, expertise in online payments and network enable us to act as a partner for international merchants to set up their business in India. We help these international brands enter and succeed in the Indian eCommerce market.”
Recent Deals in Similar Segment
Other players including Citrus, MobiKwik and CCAvenue are also operating in similar space.