Mobile-based money transfer and payment platform Chillr has raised Rs 390 million from Sequoia Capital in a Series A investment. Further, the company has stated that it has yet not closed the round as it is expecting another $1.5 million from interested venture capital funds to co-invest over the next few weeks.
Chillr does not have a mobile wallet of its own. The app is linked to the customer’s bank account and directly transfers the money from the bank account to another person’s or a merchant’s bank account using immediate payment service (IMPS) technology. The app has already done over four lakh transactions worth over Rs 200 million. The company is also looking to hire around 120 people before end-2015.
