Paytm Buys Out a Flipkart and Tiger Global Backed Firm
India’s leading payment gateway Paytm on Tuesday has reportedly acquired Cube 26, which is a New-Delhi based technology company backed by Flipkart and Tiger Global.
The tech firm had raised a seed funding from both the investors amounting to $7.7 million in 2015. The start-up was founded by Saurav Kumar, Abhilekh Agarwal, and Aakash Jain in 2012. Cube26 produces customized Android OS for original equipment manufacturers, and at present, it is building a games and apps store by connecting India-based developers directly with smartphone users.
“We are focused on building a more immersive and feature-rich mobile experience for our large active user-base,” said Madhur Deora, the chief financial officer at Paytm. “We are excited to welcome the Cube26 team on board,” he added.
According to ...