Zomato raises $50 mn, acquires payments platform MaplePOS

Washington: 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.