Qwikcilver raises $10 million from Sistema, Accel India & others

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Gifting card solutions provider Qwikcilver has raised a new round of funding, pegged at $10 million (Rs 67 crore), led by Sistema Asia Fund, the proprietary fund of Russian conglomerate Sistema.

Qwikcilver is a technology company in India delivering gift card and stored-value card solutions to retail customers,

While Qwikcilver declined to comment on the size of the round, one source said Sistema had pumped in Rs 30-40 crore while the rest came from existing investors.

 

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