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Razorpay acquires payments tech start-up IZealiant Technologies

March 16, 2022

Razorpay acquires payments tech start-up IZealiant Technologies
Fintech unicorn Razorpay on Tuesday announced the acquisition of digital payments startup IZealiant Technologies for an undisclosed sum.

As a part of the acquisition, Razorpay will absorb the entire team of IZealiant Technologies.
 
The deal marks Razorpay’s fifth acquisition since its establishment in 2014. The organization made its global foray last month after it obtained Malaysian fintech firm Curlec.
 
Established in 2015, IZealiant is a Pune-based start-up that provides mobile-first, application programming interface (API) enabled, cloud-ready payment processing products for banks and financial institutions.
 
The acquisition of IZealiant will additionally strengthen Razorpay’s banking solutions arm, helping it with building innovative payment banking technologies for partner banks, it said in a statement.
 
Razorpay’s banking solutions arm has been working intimately with 45 banks in India and has launched several solutions including Razorpay TokenHQ, a card tokenization solution, and MandateHQ, a plug-n-play recurring payments interface for banks.
 
Harshil Mathur, CEO & co-founder of Razorpay said, “The team at IZealiant has extensive experience in developing and implementing complex, high-performance acquiring and issuing systems”.
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