Razorpay acquires Bengaluru-based Ezetap

As per the filings, accessed by news portal Entrackr, Razorpay will acquire more than 80% stake in Ezetap in a primary and secondary deal which fell in the range of $100-120 million, the website reported.

Razorpay acquires Bengaluru-based Ezetap
Ezetap is Razorpay’s sixth acquisition to date.

Fintech unicorn Razorpay has acquired Bengaluru-based Ezetap, a digital payments solution provider, regulatory filings by the latter’s holding company in Singapore showed.

As per the filings, accessed by news portal Entrackr, Razorpay will acquire more than 80% stake in Ezetap in a primary and secondary deal which fell in the range of $100-120 million, the website reported.

Also read: MSMEs should switch to making EVs instead of combustion engines, said MSME Ministry’s D Chandrasekhar

Queries sent to Razorpay and Ezetap did not elicit replies on Tuesday.

Ezetap provides software for fintech, including point of sales (PoS) solutions, billing, and loyalty solutions and competes with the likes of Paytm, Simpl and Innoviti.

According to Tracxn, the company was valued at about $145 million and has raised a total of $59.1 million since its inception in 2011.

Also read: WhatsApp to soon let users set up 3D avatars as profile picture, says report

Ezetap is Razorpay’s sixth acquisition to date. Others include Curlec, ThirdWatch, Opfin, TERA and IZealiant Technologies. Razorpay — after having raised over $800 million across at least 11 rounds — was valued at about $7.5 billion, as per Tracxn. Its investors include Sequoia, Tiger Global, Lightspeed, Mastercard and others.

Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news.

Photos