IppoPay Technologies, a Chennai-headquartered payments infrastructure company, today announced that it has acquired city-based Roamsoft Technologies for an undisclosed amount.
In a press release, IppoPay Technologies said, Roamsoft is primarily engaged in the business of developing products and providing technology services to startups especially in the fintech and e-commerce space.
It is to be noted that Roamsoft Technologies was originally founded by IppoPay founder Mohan K in 2013. Later, he co-founded Foloosi Technologies, an UAE-based fintech start-up along with Dubai-based entrepreneur Omar Bin Berk during 2018-19. In November 2020, Mohan launched IppoPay as a payment infrastructure company focussed on freelancers, small businesses in smaller towns.
40 developers on board now
IppoPay co-founder and CEO Mohan K said, “I had to exit Roamsoft when I started IppoPay. We have now acquired Roamsoft because of their developers. Considering Roamsoft specially focusses on fintech project development, and IppoPay being a fintech company requires such talented and experienced developers on board.”
Through this acquisition, IppoPay brings on board a team of over 40 developers from Roamsoft Technologies.
Vaibhav Domkundwar of Better Capital, which was the founding stage investor in IppoPay said that IppoPay is on a massive growth trajectory and it is important 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.”