Bangalore: Mumbai based TranServ; a prepaid program payment manager has raised funding from Nirvana ventures. This procurement also adds Rajan Mehra, Managing Director and Amit Patni, Chairman to the board of this investment seeking company.

TranServ offers its clients a turnkey solution to build, manage and operate innovative prepaid programs including mobile payment solutions, delivering through a low cost platform and the wide spread distribution of business correspondents who are located across India and who enable the under banked communities to transact electronically.

The numerical detail of this funding is yet to be disclosed but TranServ would incorporate the funding towards operational activities and its improvement and to also develop current and planned payment products, as reported by prnewswire.com. It was founded in 2011 by Anish Williams, Sandeep Ghule, Aditya Gupta and Amar Habibullah. The CEO and Co-founder, Anish Williams says "We are excited to partner with Nirvana Venture Advisors. This investment will help scale up our operations and resources to deliver our current and planned payment products."

Rajan Mehra, the managing director of Nirvana Venutres, who would also join the board of TranServ, said “"At Nirvana, we believe that the payments landscape is transforming in India and that offers a large opportunity for new products and business models. We are excited by what TranServ is creating and the team has rich experience in the payments business. This investment allows us to align with them at the right stage and also participate in their future success."