Indian payments startup ToneTag nets $78m in Series B2

ToneTag, India’s voice-based payment and commerce solutions provider, has attracted an investment of INR 674 crores ($78m) in its Series B2 funding round.

The funding is a combination of primary and secondary capital co-led by ValueQuest Scale Fund and Iron Pillar, along with participation from existing investor Elevate Capital. This investment will enable ToneTag to revamp customers’ payment experiences and accelerate its global expansion.

With over 30 million interactions per day, ToneTag is leveraging its patented soundwave protocol to deliver a seamless solution to its customers. Its stability at this scale highlights India’s prowess in creating globally competitive product companies. ToneTag counts global tech giants and Indian banks amongst its customers in a B2B SaaS offering.