U.S. venture major Greylock Partners has invested in Indian electronic payment processing outfitÂ TechProcess Solutions (formerly BillJunction).
The size of the investment has not been disclosed.
Greylock executives Asheem Chandna and Ganesh Rengaswamy are managing the investment in TechProcess.
TechProcess was originally backed by ICICI Ventures. TechProcess’ CEO Bikramjit Sen was an ICICI executive in the project financing group.
TechProcess provides transaction and payment processing services.
The seven-year-old outfit’s services include processing transactions (debit & credit) for the telecom, insurance, mutual funds, credit cards, banks and non-banking financial companies.
In the insurance sector, TechProcess’ offerings include centralized and decentralized services in the area of account receivables, account payables and document processing.
TechProcess has 600 employees in 58 locations.