Helion invests $2.2 million in JiGrahak

Posted on | August 12, 2006 |

After content aggregators, Indian mobile payment companies are attracting VC funding.

Helion Venture Partners has announced an investment of $2.2 million in Bangalore-based mobile commerce company JiGrahak.

JiGrahak’s product NGPay is a free downloadable mobile application which enables users to book flight tickets, buy movies tickets, to buy goods and services, and make payment through mobile phones. It supports all kinds of Credit card and Visa.

Sourabh Jain, CEO, JiGrahak:

NGPay has gone live and presently it has tied up with Air Deccan and SifyMall and will tie up with Inox shortly, so the end-users can avail its services…

One can make bill payments, recharge pre paid cards, order a pizza, or buy gifts, books, through NGPay

Helion had announced its $140 million India Venture Fund a week back. It provides multistage funding from the early stages of strategy formulation till the mergers and acquisitions, which ranges from $1-2 million at early stages to $8-10 million to scale up the organization.

Ashish Gupta and Kanwaljit Singh, MD, Helion will join the board of directors at JiGrahak.

Also Read:
Sherpalo and Kleiner Perkins invest in Paymate
SifyMall to use NGPay
Air Deccan deploys NG Pay

Source: CIOL

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