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Mumbai-based ATM payment solutions company Electronic Payment and Services (EPS) has raised Rs. 33 crore ($5.3 million) from Asia Participations B.V., a wholly owned subsidiary of Netherlands Development Finance Company (FMO).
Dua Associates advised EPS, which manages ATM operations for public sector banks in Maharashtra, including their installation and maintenance. Dua team was led by Mumbai-based Partner Vinod Joseph along with Senior Associate Sugandha Kamal and Associate Rajat Agarwal.
A&M Law Offices acted for FMO with a team led by Partner Viral Mehta along with Associates Prachi Goel and Kinnari Sanghvi.
Dua Associates had also advised EPS in its earlier two rounds of funding from Aavishkaar totaling Rs. 53 crore.
EPS has installed 2,520 ATMs and next year plans to double its installation network to 5,400 ATMs, reports ET.