American payments firm Wibmo has acquired Mypoolin, an Indian payments technology provider set up in 2015 by Ankit Singh and Rohit Taneja.
Mypoolin will operate as the Indian unit of Wibmo until it gets integrated with the American firm. Mypoolin’s co-founders will join Wibmo as part of the deal.
Wibmo founder and CEO Govind Setlur said: “Mypoolin is a very strong technology company in the bank account-based payment space in India. With UPI and Aadhaar based market leading solutions in this rapidly growing segment, Mypoolin expands our offering in consumer payments and opens some very exciting opportunities.”
Financial terms of the stock-cash deal were not revealed by the companies.
“With a strong focus on innovation and rapid adoption of technology to meet market needs, Mypoolin aligns well with our own culture of being the change agent in payments,” Setlur added.
Mypoolin enables users to send and receive money directly from banks, as well as offers a feature to split and settle bills using an interface. The firm is backed by Accel Partners, Qualcomm Ventures, Investopad, and angel investors including Rajan Anandan and Sharad Sharma.