Visa Inc. is participating in a $25 million round of funding for Paymate, a Mumbai, India-based B2B payments company. 

Besides Visa, investors in the round include Recruit Strategic Partners, the venture capital arm of Japan's Recruit Co., Brand Capital and existing investor Mayfair 101. 

"We are very excited to have Visa come on board as an investor, which will help complement our existing commercial partnership with them and help us scale faster by combining capital with Visa's network,"Ajay Adiseshann, founder and CEO of Paymate, said in a company release.

Visa and Paymate announced a deal in January 2018 that would allow Visa corporate customers to use Paymate to automate payments in India. In March the companies expanded their partnership to Africa, Central and Eastern Europe and the Middle East. 

The funding will be used to expand Paymate's domestic and international business, starting with the United Arab Emirates as well as other countries in the Gulf Cooperation Council, according to a spokesman for Paymate. The expansion will continue into North Africa and Eastern Europe.

Paymate has about 35,000 customers and the company processes about $5 billion payments per year.