India’s Mswipe Technologies has raised an undisclosed amount of Series B funding, according to Techcircle, reflecting growing interest in mobile point of sale (MPoS) systems within the firm’s domestic market.

According to sources with knowledge of the deal, the company has raised funds from existing investors Matrix Partners and Axis Bank.

One source said Mswipe also attracted interest from Sequoia Capital, Qualcomm Ventures and Hitachi-controlled Prizm Payments, but chose to stick with its existing backers.

Mswipe is just one of a number of similar firms trying to attract small retailers in India with their competing systems. Rivals include Ezetap Mobile Solutions, MobiSwipe Technologies, PayMate India and iKaaz Software.

Mswipe raised angel backing from investors including from Deepak Shahdadpuri, founder and MD and Beacon India Private Equity Fund in 2012.

In January last year, Mswipe tied up Series A funding, led by Matrix Partners. Axis Bank  also participated in this round.