Private Equity Fund Investments
Payments reconciliation startup Recko to be acquired by US-based Stripe
In its first acquisition in India, San Francisco, CA (USA)-based payments tech firm Stripe is acquiring Recko, a Bengaluru-based provider of payments reconciliation software for internet businesses. Recko automates key steps of reconciliation to relieve finance teams of a tedious and time-consuming process. Recko, launched in 2017, counts internet businesses including Deliveroo, Meesho and PharmEasy as customers. Its team will join Stripe's remote engineering hub, helping to build and scale Stripe's products globally.
From the Venture Intelligence PE-VC Deal Database: Between Jun-19 and Apr-20, Recko had raised over $6-M in VC funding from Prime Venture Partners, Vertex, Locus Ventures and others.
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