Liquidity Events
Juspay buys recurring payments solutions provider LotusPay
SoftBank-backed fintech company Juspay has bought Y Combinator-backed, Bengaluru-based merchants and banks-focussed software provider LotusPay in an all cash deal.Founded in 2016 by Atma Krishna, LotusPay is a NACH (National Automated Clearing House) Debit company that offers cloud-based software for merchants and banks.The acquisition is aimed at strengthening Juspay’s offerings to the BFSI segment and merchants, with a particular focus on enhancing its recurring payment capabilitiesLotusPay claims to have registered more than 5 million mandates and processed over 20 million transactions, surpassing a total value of INR 20,000 crore.
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