Nirvana Venture Advisors has picked up an equity stake in TranServ, a prepaid payments program manager.
As part of the deal Amit Patni and Rajan Mehra of Nirvana Venture Advisors will join the TranServ board.
"This investment will help us scale up our operations and resources to deliver our current and planned payment products," said Anish Williams,Co-founder & CEO of TranServ.
TranServ, which was founded last year offers prepaid card programs to banks, retailers and other companies who can take advantage of industry leading technology specifically tailored for the Indian market.
The company expects prepaid cards to play an increasingly important role in financial inclusion and enable presently under banked communities to buy and pay electronically. "We offer our clients a turnkey solution to build, operate and manage innovative prepaid programs including mobile payment solutions, delivered through a low cost platform and the wide spread distribution of business correspondents",Anish said.
Nirvana Venture Advisors is an early-stage venture capital fund, focused on the internet, mobile and electronic payments space.
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