Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

Financial solutions company <keyword id="2777173" type="PERSON" weightage="20" keywordseo="Razorpay">Razorpay</keyword> on Monday said it has acquired AI-based risk tech <keyword id="6395918" type="UNKNOWN" weightage="20" keywordseo="SAAS">SaaS</keyword> (software-as-a-service) platform <keyword id="11669390" type="UNKNOWN" weightage="20" keywordseo="tera-finlabs">TERA Finlabs</keyword> for an undisclosed sum. TERA Finlabs is an Indian subsidiary of GAIN Credit, a leading UK digital lender which was launched in 2018 to expand their global footprint in digital lending. This marks the company's third acquisition after foraying into the B2B SME lending space with the launch of Razorpay Capital in 2019, it said in a statement. "The team at TERA FinLabs comes with exceptional domain knowledge in credit underwriting &amp; risk management and we see immense value in TERA Finlabs core lending infrastructure capabilities," said Harshil Mathur, CEO and Co-Founder, Razorpay. Razorpay Capital, along with TERA Finlab's technology capabilities, will be able to service the credit needs of over 10,000 businesses in India by the next year, the company said. "We are excited that the strengths of Razorpay and TERA Finlabs are now coming together to ensure that small businesses aren't burdened by the short-term uncertainties. Our robust end-to-end platform will enable new businesses to build a scalable and profitable credit business," said Pradeep Rathnam, Co-Founder and CEO, TERA Finlabs. Razorpay acquired <keyword id="5569668" type="UNKNOWN" weightage="20" keywordseo="thirdwatch">Thirdwatch</keyword>, an AI-driven company that helps reduce Return-to-Origin (RTO) fraud losses in e-commerce in 2018, and <keyword id="8363793" type="UNKNOWN" weightage="20" keywordseo="opfin">Opfin</keyword>, a payroll management software company, in 2019. The company said it has been witnessing a 40-45 per cent growth (on-month) and has achieved $40 billion TPV (Total Payment Volume). Razorpay currently powers payments for over 8 million businesses including the likes of Facebook, Airtel, Ola, <keyword id="11669388" type="UNKNOWN" weightage="20" keywordseo="zomato-swiggy-cred">Zomato, Swiggy, Cred</keyword> and ICICI Prudential, among others, and is set to reach 200 million customers this year. SEE ALSO - <a href="https://www.businessinsider.in/tech/mobile/news/apple-could-finally-bring-the-always-on-display-feature-on-the-iphone-13/articleshow/84542970.cms">Apple could finally bring the always-on display feature on the iPhone 13</a> <a href="https://www.businessinsider.in/stock-market/news/g-r-infraprojects-ipo-makes-a-strong-listing-on-exchanges-with-over-100-premium-shares-open-at-1700/articleshow/84542747.cms">G R Infraprojects IPO makes a strong listing on exchanges with over 100% premium, shares open at ₹1700</a>

Fintech startup Razorpay buys SaaS firm TERA Finlabs

New Delhi, Nov 22 () Fintech major Razorpay on Friday said it has acquired payroll and HR management software company, Opfin.
 The company did not disclose the amount it has raised.
 The acquisition will enable businesses to not only manage their payroll process and fund transfers, but also manage filing of taxes, compliances through a single platform without hiring any external vendors, Razorpay said in a statement.
 "Payroll is a fragmented market with no clear solution. With Opfin, Razorpay hopes to make this effort a lot easier with robust technology and an enhanced experience. This acquisition is a significant part of RazorpayX's business banking strategy," it added.
 RazorpayX is the company's AI-driven neo-banking platform.
 This is Razorpay's second acquisition in the last six months, after Thirdwatch, an AI-driven company specialising in big data and machine learning for real-time fraud prevention.
 Besides, Razorpay launched corporate credit cards for SMEs and startups in partnership with RBL.
 With this launch, Razorpay aims to solve challenges around access to credit, short term credit, reconciliation, expense filing and help businesses lead a healthy financial life, it said.
 These announcements were made at the second edition of FTX, Razorpay's flagship fintech conference in Bengaluru.
 "It is important to think about financial inclusion not just in terms of consumers but also in terms of businesses...The move we have made today, helps us expand our horizon in payments and banking and solve new challenges for ambitious businesses who are wanting to disrupt the Indian economy," Razorpay CEO and co-founder Harshil Mathur said.
 Currently, the payments business forms 70 per cent of Razorpay's revenue and the neo-banking platform, Razorpay X along with Razorpay Capital forms the rest 30 per cent.
 The company has been witnessing a growth rate of 35 per cent month-on-month.
 "Currently powering payments for over 8 lakh businesses including the likes of Indigo, BSE, Thomas Cook, Reliance, SpiceJet, Aditya Birla, Sony and Oyo, the team plans to increase this to 14 lakh by 2020. This neo-banking platform expects a 4x growth in its volumes by the end of the next fiscal year," the statement said. SR SHW
SHW

Razorpay acquires Opfin, introduces corporate credit cards with RBL

Fintech services platform Razorpay on Thursday announced it has acquired offline payments services provider <keyword id="6519244" type="General" weightage="100" keywordseo="ezetap" source="Orion">Ezetap</keyword>, becoming one of the few companies globally with a significant online and offline presence in payments. According to sources, the deal size is around $150-200 million. This marks Razorpay's sixth and biggest acquisition to date. The <keyword id="14747570" type="General" weightage="50" keywordseo="ezetap-team" source="Orion">Ezetap Team</keyword> of around 300 employees will join Razorpay and work as an independent business unit. "We believe that the businesses of tomorrow will not distinguish between physical and digital channels and will expect a unified payment experience through a single integrated platform," said Harshil Mathur, CEO and Co-founder, Razorpay. Ezetap provides software for financial technologies, including point of sales (POS) solutions, billing, loyalty solutions among others, enablingAbusinesses to accept payments in-store and on-delivery. It currently serves over 500,000 touchpoints, including <keyword id="18635" type="General" weightage="50" keywordseo="amazon" source="Orion">Amazon</keyword> and BigBasket, and works closely with banks like <keyword id="13222" type="General" weightage="50" keywordseo="sbi" source="Orion">SBI</keyword>, <keyword id="45123" type="General" weightage="50" keywordseo="hdfc" source="Orion">HDFC</keyword>, ICICI and Axis, among others, processing over $10 billion in annual transactions on its platform. "We join Razorpay's suite of products to collectively offer businesses the best-in-class omni-channel payments experience and are excited at the limitless possibilities that together both the companies are looking to explore in the omnichannel payment world," said Byas Nambisan, CEO of Ezetap. Prior to this, Razorpay acquired fintech startup IZealiant Technologies, Malaysia-based Curlec, TERA Finlabs, Opfin and Thirdwatch. With a $80 billion total payment value (TPV) as of April, Razorpay is eyeing a 10-12 million merchant base by next year. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/rbi-tightens-norms-for-chinese-lending-apps/articleshow/93629917.cms">RBI tightens norms for Chinese lending apps</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/genzs-millennials-are-turning-to-thrift-stores-to-upgrade-their-wardrobe-while-saving-the-environment/articleshow/93619737.cms">GenZs, millennials are turning to thrift stores to upgrade their wardrobe while saving the environment</a>

Fintech services platform Razorpay acquires offline payments firm Ezetap

<ul><li><keyword id="2777173" type="PERSON" weightage="20" keywordseo="Razorpay">Razorpay</keyword> has launched a corporate credit card for <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword> and <keyword id="44779" type="COMPANY" weightage="20" keywordseo="SMEs">SMEs</keyword>.</li><li>It also announced payment support for freelancers and homepreneurs, who struggle to manage their invoices and payments. </li><li>It also announced the acquisition of a payroll and HR management software company – Opfin. </li><li>Razorpay is expecting its business volume to grow four times by the end of FY21. </li></ul>Indian neo-banking platform Razorpay has launched a corporate credit card for startups and SMEs, along with a bunch of other products today. The credit card will give businesses a no-cost interest for 50 days with a credit line ranging between ₹50,000 to ₹25,00,000. “The move we have made today, helps us expand our horizon in payments and banking and solve new challenges for ambitious businesses who are wanting to disrupt the Indian economy,” said said Harshil Mathur, CEO and Co-founder of Razorpay. The company also claims that it has seen a 500% growth in the last one year. It has over 800,000 clients and hopes to grow this number to 1.4 million by 2020. Some of its marquee clients are Indigo, Bombay Stock Exchange, Thomas Cook, Reliance Industries, SpiceJet, Aditya Birla, Sony and Oyo. It is also expecting its business volume to grow four times by the end of FY21. The startup also announced payment support for freelancers and homepreneurs who struggle to manage their invoices and payments. “We want to make banking trivially simple and accessible for our partner businesses so that while they focus on building new ideas, products and experiences, we take care of their concerns around financial processes,” said Mathur. It also announced the acquisition of a payroll and HR management software company – Opfin. The financial details of the transaction are not disclosed. In June, Razorpay raised $75 million in a series C round of funding from marquee investors like Sequoia India and Ribbit Capital, along with participation from Tiger Global and Y Combinator. In June, the startup also offered digital payment support for 100 currencies enabling Indian businesses to transact and accept payment from global companies. Interestingly, Razorpay was also one of the first startups to announce employee stock options. According to <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/tiger-global-snaps-up-razorpay-esops/articleshow/66686980.cms">reports</a>, 140 employees had used their stock options in the company to cash in money from investment firm Tiger Global in November 2018.

You Searched For "opfin" and got 4 results

Fintech startup Razorpay buys SaaS firm TERA Finlabs

IANS

Razorpay acquires Opfin, introduces corporate credit cards with RBL

PTI

Fintech services platform Razorpay acquires offline payments firm Ezetap

IANS

Razorpay launches small biz credit card with no-cost interest for 50 days

Sanchita Dash

Popular Keywords

Buying Guides