Thursday, April 25

Tag: payment firm

Online Payment firm PayU acquires US-based Wibmo for $70 mn
16Apr By AdityaNo Comments
ACQUISITION

Online Payment firm PayU acquires US-based Wibmo for $70 mn

Online payment service provider PayU acquires the US-based financial technology firm Wibmo for $70 million (around Rs 484 crore). Given different capabilities and positioning in the value chain, Wibmo and PayU businesses will continue to run separately, PayU said in a statement. Wibmo partners and deeply integrate with banks in over 20 countries to offer payment authentication and risk-based decisions across billions of online and mobile payment transactions. "This strategic acquisition combines PayU's strong merchant network and Wibmo's leadership in digital transaction security solutions to offer industry-leading payments solutions to merchants and financial institutions in India and other high growth markets," the statement said. Aakash Moondhra, CFO, PayU Global said, "W...
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Payment Solution Firm Razorpay Raises $20M funding
15Jan By AdityaNo Comments
FUNDING

Payment Solution Firm Razorpay Raises $20M funding

India's payments solutions firm Razorpay has raised $20 million funding led by Tiger Global and Y Combinator with participation from Matrix Partners. However, company declined to disclose the company valuation post this fundraise. "We will use the funds for our next phase of growth by scaling products and bolstering our technology and expanding to newer markets like South East Asia," said Razorpay CEO & Co-Founder Harshil Mathur. With this funding, Razorpay has raised a total $31.5 million funding until now. It had earlier raised $11.5 million funding from a clutch of investors including Tiger Global, Y Combinator, Matrix Partners and 33 angel investors. MasterCard had also made a strategic investment in Razorpay in June 2016. This announcement comes at a time when global gian...
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