Mumbai-based payment processing start-up firm Citrus Payment Solutions Pvt. Ltd.,has revealed that it, has raised $2 million from Sequoia Capital in return for a minority stake and launched a new checkout service that will make online transactions quicker for customers. The money is the first Citrus has raised and will be used to expand its technology team and develop newer technologies.
Citrus, which was launched in 2011, has partnerships with the top 30 banks in India, including HDFC Bank Ltd, ICICI Bank Ltd and State Bank of India.
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