MoneyOnMobile Inc. received gross proceeds of about $3.8 million from an offering of common shares and five-year warrants, according to an April 7 filing.

The offering closed March 10, when the company sold 6,328,610 common shares, and five-year warrants to purchase 1,265,725 common shares at an exercise price of $1.00 per share.

The company used the proceeds for general corporate purposes and to continue developing its Indian business operations.