ATM outsourcing company Electronic Payments and Services (EPS) has raised $6 million (Rs 36 crore) from Social VC fund Aavishkaar. This is the second round of funding for the start-up which has received the mandate to set up machines all over Maharashtra by public sector banks. EPS plans to deploy around 5000 plus ATMs by 2014 with 500 installations every month.
Last year, Aavishkaar had invested $4million in EPS through two of its funds -- Aavishkaar Goodwell II, a financial inclusion fund and Aavishkaar II, a rural and semi-urban India focused fund.
Source: Times of India
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