India-focused investment management firm IDFC Asset Management and India-based consumer electronics company Micromax Informatics have led a US$15 million Series C funding round for India-based digital payments company TranServ. Existing investors in the company, early-stage investor Nirvana Ventures and private equity firm Faering Capital, also participated in the round. IDFC’s investment was structured through IDFC SPICE Fund, while Faering’s investment was structured through Faering Capital India Evolving Fund. TranServ plans to use the fresh capital to accelerate its growth and invest in new product lines including micro credit