Fintech startup IppoPay raises $2.1 million in seed funding

IppoPay, a fintech startup, announced $2.1 million in seed funding on Tuesday from Coinbase Ventures, Better Capital, Blume Founders Fund, and other angel investors.

The startup intends to use the new funds to fortify its technology stack, including its payments engine, and to propel its expansion into new regions and market segments, such as small-to-medium-sized businesses. In addition, IppoPay is launching BNPL, a (technology/platform/feature) that will enable offline retailers to provide their customers with easy access to credit at the point of sale.

“Our goal is to help offline merchants increase their sales and profits 10x while reducing friction in the customer experience,” IppoPay CEO, Mohan K said. “We want to put to an end the tedious and time-intensive tasks of handling finances. IppoPay will work towards servicing and transforming businesses in every region and segment of the Indian economy.”

IppoPay, which was founded in November 2020, has enabled 50,000 offline merchants and daily income earners in India’s Tier 2, Tier 3, and rural markets to increase their revenues through the acceptance of online payments, according to the company.

“I am excited to see Coinbase Ventures and Blume Ventures join us on the IppoPay journey as the company defines the financial digitization roadmap for millions of small businesses in Tier 2 to Tier 4 India with a suite of products for payment, payouts, BNPL, and more,” Vaibhav Domkundwar of Better Capital, an early backer of fintech innovators like Slice, Rupeek, Open, and others said.

Get to know the pulses of the Indian startup ecosystem in reality by attending “INDIA FIRST TECH STARTUP CONCLAVE & AWARDS’22-Delhi Chapter” organized by the All India Council for robotics and automation, supported by the Ministry of electronics and information technology.

The event is scheduled to be held on the 17th and 18th of February 2022, marking the biggest tech startup event this year. The event brings together the speakers that are the best breed of entrepreneurs, innovators, venture capitalists, government department’s representatives, business model creators, consultants, policy-makers, academicians, support groups, business coaches and business practitioners.

The Platform helps startups to ramp up their innovative ideas and show off their services and products to attract investors. The experts of the industry will address and discuss all the innovations happening around the startup environment that youth empowerment and new-age tech business ideas can grow.

Click to know more about India’s biggest tech startup event: IndiaFirst Tech Start up | AICRA




Related posts

Leave a Comment