Digital payments startup ToneTag closes $78 million funding round

Bengaluru-based digital payments startup ToneTag has secured $78 million in a fresh funding round from stock market veteran Ravi Dharamshi’s private equity fund ValueQuest Scale Fund and venture fund Iron Pillar. Existing investor Elevate Capital has also participated in the round.

Iron Pillar is an investor in startups like BlueStone, CureFoods and others.

Speaking with ET, Kumar Abhishek, founder of ToneTag said that the round is a mix of primary and secondary capital, but declined to offer the details around who sold their shares in this round.

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