Photo used for representational purposes only
Chennai-based IppoPay Technologies, a verticalized payments infrastructure company, has acquired fintech-focused IT products and services company Roamsoft Technologies Pvt Ltd, also based in Chennai, for an undisclosed amount.
Roamsoft is engaged in developing products and providing technology services to start-ups, particularly in the fields of financial technology and e-commerce. This acquisition provides IppoPay with a suite of products that will help with the business. With this acquisition, IppoPay brings together a team of more than 40 developers
Mohan K, CEO and co-founder of IppoPay said: “The aim of such acquisitions is to optimize development and attract people who can add value to us in the next phase of growth.”
Better Capital’s Vaibhav Domkundwar, who was a founding investor in IppoPay, said, “It’s important for us to have the right talent pool to sustain the pace of growth. We are attracting a team of fintech builders to Roamsoft who are deeply aligned with our mission.”
IppoPay is a comprehensive payment solutions company operating in verticals with a large TAM (total addressable market) such as MSME, agri-technical and educational companies. The company is backed by major investors such as Coinbase Global Inc., Better Capital and Blume Founders Fund. The company also recently acquired the AI-enabled risk management solutions business of Tutelar.