Other Private Equity/Strategic Investments
Fintech co. POP bags $30-M from payment solutions provider Razorpay
Bengaluru-based fintech startup POP has raised USD 30 million (INR 258.2 crore) from fellow Bengaluru-based digital payments solution provider Razorpay. With this funding, Razorpay becomes the majority shareholder in POP.The fresh capital will be used to ramp up its product innovation, boost consumer value proposition through POPcoins-driven rewards and foster merchant partnerships.Launched in 2023 by ex-Flipkart executive Bhargav Errangi, POP runs a rewards-first UPI payments app that claims to bring together payments, shopping and credit into one seamless experience. It offers UPI payments, an integrated marketplace, and a credit card that helps users rack up POPcoins which can be redeemed later.
Between Nov 2023 and Nov 2024, POP UPI had attracted about USD 5 M from PE-VC investors.
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