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Indian restaurant search app Zomato raises 50 mln dollars, acquires payments platform MaplePOS


Indian restaurant search app Zomato has raised 50 million dollars funding and acquired a payments platform MaplePOS.

According to TechCrunch, a source said that the funding now values Zomato at over one billion dollars.

MaplePOS's original service has been shut down as the product has been absorbed into Zomato's platform and the plan is to roll it out globally later this year.

The acquisition of MaplePOS was a cash-and-equity deal. However, the price of the deal ha snot been disclosed as yet.

Maple POS is Zomato's first acquisition of a restaurant-focused product.

Earlier, Zomato acquired Urbanspoon from IAC for 55 million dollars to spearhead its entry into the U.S. market and Mekanist to ramp up in Turkey.

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First Published: Wed, April 15 2015. 11:59 IST