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Razorpay acquires BillMe to build on its omnichannel capabilities
September 12, 2023
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Merchant services provider Razorpay has acquired digital invoicing startup BillMe, as it looks to deepen its merchant loyalty business and expand the suite of value-added services.
Razorpay declined to comment on the financial terms, but people in the know said the Tiger Global-backed startup is paying about $10 million in cash and shares for BillMe.
Founded in 2018, Mumbai-based BillMe helps merchants send digital bills to customers. It also provides customer relationship management software to online and offline merchants to help decipher customer behaviour and boost engagement.
BillMe marks the eighth acquisition for Razorpay, which in the past has acquired startups including Malaysian payments firm Curlec, fraud-detection platform ThirdWatch and payroll management solution Opfin.
The acquisition allows Razorpay to double down on value-added services, helping its merchants build loyalty with their customers, as well as go deeper into the offline market.
“Embarking on our omnichannel journey last year, the timing couldn’t be more opportune. We are thrilled about getting a disruptor like BillMe on board,” said Shashank Kumar, managing director and cofounder of Razorpay.
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