RazorPay acquires digital invoicing and customer engagement platform BillMe to empower businesses and customers
BillMe, established in 2018, has introduced innovations aimed at reducing the reliance on paper bills and enhancing the value proposition for merchants.
- The Tiger Global backed company has chosen the
acquisitionroute to grow, with BillMe being their 8th acquisition. Razorpay, powered by BillMe, will soon introduce digital bills that enhance merchant-customer engagement seamlessly.
The startup has a clientele of over 4,000 businesses, overseeing more than 15,000 retail point-of-sale (POS) systems. Notable clients include brands like McDonald’s, Burger King, Decathlon, Baggit, Relaxo Footwear, and Cinepolis, among others.
Taking an acquisition route to growth
The Tiger Global backed company has chosen the acquisition route to growth, with BillMe being their 8th acquisition. In September 2002, Razorpay had acquired fintech startup PoshVine which offers loyalty and engagement solutions linked to payments to banks and businesses. In August 2022, it acquired Ezetap, an offline POS company that was founded with the aim to simplify the in-person offline payments experience.
Prior to that, the company acquired Pune's fintech startup IZealiant Technologies, which offers payment technology solutions tailored for banks. Other past acquisitions include Malaysia-based fintech company Curlec, specialising in recurring revenue platforms and TERA Finlabs, an AI-driven risk tech SaaS provider, among others.
How the synergy will work
Razorpay, powered by BillMe, will soon introduce digital bills that enhance merchant-customer engagement. These bills offer personalisation, including feedback and survey options, creating a customised and interactive experience. BillMe's rapid deployment and integration capabilities allow businesses to adopt digital invoicing in under 10 minutes, simplifying the process and requiring minimal tech expertise.
Dashboards will empower merchants to analyse customer behaviour, set custom campaign rules, and facilitate cross-sales, promotions, video embeds, banner ads, and more. Customers will benefit from a streamlined, efficient checkout process without concerns about storing or retrieving physical bills, addressing issues for both customers and merchants.
Says Shashank Kumar, MD and Co-founder, Razorpay, “Through such digital bills, their associated dashboards, and analytics behind them, we plan to scale up a simple bill into a multidimensional tool for merchants to understand, engage, and target their customers much more effectively.”
Says Kuber Pritmani, Co-Founder, BillMe, "With Razorpay, we now have a large scope to deepen our tech expertise and create a difference for our businesses. Reinforcing integrations across all Point of Sale touchpoints enhances the value we aim to provide to our clients.”
AdvertisementThis acquisition will further enable RazoRpay to empower businesses across various sectors, enabling them to accelerate their growth.
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