IppoPay Technologies, a verticalized payments infrastructure company, said in a statement that it has acquired the business of Roamsoft Technologies Pvt Ltd, a fintech-focused IT products and services company located in Tamil Nadu, for an undisclosed amount. Roamsoft, headquartered in Chennai, is primarily engaged in the business of developing products and providing technology services to startups, especially in the fintech and e-commerce space.
This acquisition is said to provide IppoPay with a suite of products that will help elevate the company’s in-house capabilities.
Through this acquisition, IppoPay said it will bring on board a team of over 40 developers with high cultural alignment. “Bringing such developers on board will help IppoPay rationalise time-to-hire and develop fresh talent who are aligned with IppoPay’s values,” the company added.
Mohan K, CEO & Co-Founder of IppoPay, said “The remarkable team at Roamsoft is a pioneer at developing specialist software in the fintech industry. We see this acquisition as akin to organic growth for us due to the cultural fit that Roamsoft brings to the table with its leadership and development team. Ultimately, the goal of such acquisitions is to optimise time on development and bring people on board who can add value to us in the next phase of growth.”
Sofiya T, the CEO of Roamsoft, said “IppoPay is a great cultural fit for Roamsoft. We are very excited to join the IppoPay family and continue on our growth journey.”
Vaibhav Domkundwar of Better Capital, which was the founding stage investor in IppoPay, said, “IppoPay is on a massive growth trajectory and it is important for us to have the right talent pool to keep up the pace of growth. In Roamsoft, we are bringing in a terrific team of fintech builders who are deeply aligned with our culture and mission.”
Also Read: Sam Bankman-Fried pins FTX collapse on everything but himself — 5 takeaways from this interview
