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Mumbai-based CityCash raises $1 mn seed funding from Orios Venture Partners

CityCash, a Mumbai-based fintech startup bringing state-of-the-art technologies and disruptive business models in the digital payments space, announced that it has raised $1 million seed funding from Orios Venture Partners, an early-stage venture capital fund. The RBI’s recent announcement of offline payments in retail will be a gamechanger. MSRTC has a daily bus ridership of seven million and an annual bus ticketing turnover of $1 billion. Transit payments necessarily require a phygital model where the consumers have to be serviced through an agent network. The company is creating a merchant-centric payments ecosystem through strategic alliances with various Government bodies, banks, merchants and technology vendors.

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