back Back
Seeking to raise capital? Seeking to invest? Click Here & Express your early interest to be a part of IBS Intelligence’s new fund initiative.

IppoPay, a Chennai-based FinTech Start-up raises $2.1m

By Leandra Monteiro

January 11, 2022

  • Better Capital
  • Blume Founders Fund
  • BNPL
Share

IppoPayIppoPay, a one-stop neobank for Bharat offering all banking services under one umbrella, is announcing that it has raised $2.1 million in Seed funding from Coinbase Ventures, Better Capital, Blume Founders Fund, and a number of high-profile angel investors.

This new funding round will be used to further strengthen IppoPay’s technology stack, including its payments engine, as well as power the company’s growth into new regions and market segments, such as small-to-medium-sized businesses. The company is also launching BNPL, a feature that will equip offline retailers to offer their customers 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,” said IppoPay CEO, Mohan K. “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.”

“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. We invested in this vision very early and have been fortunate to witness the Ippopay team deliver with a deep sense of purpose”, said Vaibhav Domkundwar of Better Capital, an early backer of FinTech innovators like Slice, Rupeek, Open, and others.

“Our thesis when it comes to the payments and credit space is that to be successful, companies must have a keen interest in solutions that are concentrated on specific areas,” said Sarita Raichura, Blume Founders Fund. “We met Mohan and Jaikumar multiple times and loved the hustle – in a short period, they managed to achieve tremendous progress – from partnerships with banks to gaining traction in hinterland India. They have focussed on solving problems for Solopreneurs and SMEs in Tier 2/3/4 India and are providing a full-stack payment solution. We are excited to be part of Mohan K and Jaikumar R’s early journey.”

Previous Article

January 11, 2022

LPA Group expands the UK asset management business with new hire

Read More
Next Article

January 11, 2022

nCino completes acquisition of SimpleNexus

Read More










IBSi Daily News Analysis

The Weekly Wrap

October 07, 2022

Better Capital

The Weekly Wrap: all you need to know by Friday COB | Oct 7th

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

7 FinTech tweets you should see!

Read More

Today

BKN301 Tech launches 301pay

Read More

Today

Kotak Mahindra Bank partners with Finastra for Kotak FYN

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
Global Digital Banking Vendor & Landscape Report Q3 2022

£1,500.00 / year

Know More
IBS Intelligence - Wealth Management & Private Banking Systems Report Q2 2022
Wealth Management & Private Banking Systems Report Q2 2022

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q3 2022

£1,500.00 / year

Know More
Treasury & Capital Markets Systems Report Q3 2022

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022