IppoPay bags latest investment from Mithun Sacheti, Founder of CaratLane

By Gloria Mathias

IppoPay, an India-based FinTech startup, has secured an investment from Mithun Sacheti, the Founder of CaratLane and Siddhartha Sacheti, CEO of Jaipur Gems.

IppoPay specializes in facilitating digital payments for small-scale merchants, focusing particularly on Tier II and III cities and rural areas. The company has a presence in Tamil Nadu. It is expanding its geographical footprint, starting with a deep penetration strategy in Andhra Pradesh and Telangana, followed by the rest of South India, including Karnataka and Kerala.

Apart from solving banking requirements and advancing UPI payment penetration in the unserved sector, the company is also focusing on helping MSMEs open current accounts and enable fund transfers. The company has also successfully obtained TPAP approval from NPCI.

“We are thrilled to welcome Mithun and Siddhartha. Their track record as successful entrepreneurs will undoubtedly enrich our strategic direction and add substantial value to IppoPay. They have been instrumental in providing invaluable guidance for the company’s growth,” said Mohan Karuppiah, CEO of Ippopay.

Mithun Sacheti said, “We are excited to join forces with IppoPay. Mohan’s vision and commitment to improving the way MSME households bank, transact, and invest helped us build conviction in IppoPay’s ability to build a sustainable fintech platform for MSMEs in India.”

A vertical of IppoPay, Fin Meadows, operates Tech Fini, an all-inclusive, feature-rich payment infrastructure solution provider offering a suite of products like UPI switches, card switches and card management tools. Tech Fini recently completed certification for UPI with the NPCI.

Tutelar, an AI-based fraud detection and prevention tool utilized for onboarding, transaction monitoring and ensuring AML compliance, was conceptualized in-house at IppoPay. It is designed to assist clients by actively monitoring real-time payments. Notably, as part of its said FRM offering, IppoPay has successfully onboarded JusPay, Lyra, HyperFace, and CAMSPay as clients.

With strong leadership, strategic investments, and a clear focus on technological innovation and financial inclusion, IppoPay is poised for exponential growth. The company’s future initiatives will continue to prioritize enhancing the customer experience, expanding service offerings, and forging strategic partnerships to drive further innovation and solidify its position in India’s evolving FinTech ecosystem.