Integrated financial services platform airpay on Friday announced the acquisition of Finfinity Technologies, a Delhi-based personal finance management start-up and the developer of Finmapp app.
The acquisition would fortify airpay's integration play across the 'payments to lending to investing' ecosystem, the company said in a release.
The company did not reveal the financial details of the transaction.
Upon finalisation of the deal, Finfinity's team, comprising founders and all employees, will be absorbed within airpay, it said.
"The acquisition, expected to be completed by March, will also aid the airpay's expanding global play -- enabling it to extend its integrated proposition of 'payment to lending to investing' across its target markets," the release said.
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Incorporated in September 2020, Finfinity Technologies has partnered with more than 40 banks and financial institutions and offers access to over 150 products.
"We believe there are synergies in vision, tech prowess, and value proposition among both the companies that led us to our first-ever acquisition in our 11+ years journey," airpay Founder and MD Kunal Jhunjhunwala said.
airpay has collaborated with over 200 financial institutions and about 1,000 business partners worldwide.
