US firm invests $5mn in TWS

MUMBAI: TWS, a BPO company, has received an investment of $5million from a US-based financial services firm.

The US firm has also planned to extend $20 million line-of-credit to TWS for portfolio acquisitions. TWS is scouting for another location in Mumbai-Pune belt.

Speaking to CyberMedia News from US, Rakesh Kaul, CEO, TWS said, “ TWS plans to use these funds to fund its overall growth, strengthen its global technology platform and augment its India operations by setting up a new Center of Excellence in the Mumbai-Pune belt, focusing on the receivables management vertical.”

The company would use funds to further fuel its growth. The company currently has offices in North America and Canada and a primary offshore facility at Vashi, Mumbai. This facility has a strength of 500 people. TWS plans to add another 200 people by year-end.

The company has also purchased its first credit card portfolio and would soon start servicing clients from Vashi facility. TWS perceives huge opportunity in the collections space, and with proprietary products like 'BOOST', the company has migrated beyond the commoditized BPO service model.