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Facebook Co-Founder Eduardo Saverin Backs First Indian Startup

Eduardo Saverin
Eduardo SaverinPhotographer: Nicky Loh/Bloomberg

Facebook Inc. co-founder Eduardo Saverin is participating in a $40 million investment in Mswipe Technologies, his first foray into the India startup market.

Saverin’s B Capital Group and DSG Consumer Partners are leading the funding round, which also includes Ratan Tata’s UC-RNT Fund, Matrix Partners India and Falcon Edge Capital. Saverin will join the company’s board and work with its management on expansion.