Nirvana Venture Advisors today announced that they have invested in Mumbai based startup, TranServ, a platform that allows banks to outsource the issuance and administration of their prepaid cards. The size of the investment remains undisclosed.
TranServ was founded in August 2011 by three ex-bankers Sandeep Ghule, Anish Williams, Aditya Gupta.
Rajan Mehra, MD, Nirvana Venture Advisors has joined the board of TranServ.
Speaking about why they chose to invest, Rajan said, “Our view is that the Indian market will see an acceleration in adoption of various forms of electronic payments, especially prepaid and debit cards. The founding team of TranServ are all ex-bankers who have tremendous experience in the cards business. We believe mid-sized private banks and nationalized banks that wish to offer clients world-class solutions without incurring high capital costs will find the TranServ platform very attractive.”
Also, speaking about Nirvana’s plans for investing in 2012, Rajan said, “We’re actively looking to add to our portfolio this year and will continue to look at attractive opportunities in the internet, mobile and electronic payments space. Our current pipeline is strong and we hope to convert some of these leads into investments in the near future.”
Clearly, what TranServ is trying to do is very interesting. We shall bring to you a detailed story on them very soon! Until then, stay tuned http://transerv.co.in/