New Delhi: Foodpanda former managing director Rohit Chadda-led multi-channel offline payment platform Paylo.In on Monday acquired in-restaurant payment app Ruplee for an undisclosed sum.
The transaction will see a merger of both teams and products, helping Ruplee evolve into an omni-channel payment platform from an app-only play, in addition to expanding its cashless payment experience to more verticals beyond food where it already enjoys a first-mover advantage, the company said in a statement.
Chadda, the Paylo.In founder, said: "With both the Ministry of Finance and the Reserve Bank of India recently announcing guidelines to push digital payments and card acceptance infrastructure, the real opportunity for us is now to build on and scale further Ruplee's current outreach."
Paylo.In team's expertise in building and scaling businesses will help Ruplee's current management capitalise on their rich technical experience in the food and beverages payment space and build on foundation laid by them, the statement added.
"The rich experience in the Indian e-commerce market that Rohit and Paylo's team bring will enable us to rapidly scale and congeal our position as a market leader," Ruplee founder and CEO Natasha Jain said.
Ruplee launched its operations in October 2014 to capture the offline payment space in the dine-in segment. Today, the company partners with over 300 plus restaurants across Delhi NCR.