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Razorpay acquires TERA Finelabs
July 20, 2021
Fintech startup Razorpay on Monday said it has gained TERA Finlabs, a Bengaluru-based startup that gives technology, risk and capital solutions for enable embedded financing solutions for organizations. TERA Finlabs is an Indian subsidiary of UK-based digital lender, GAIN Credit.
The organization, however, didn’t disclose the financial details of the transaction. “This acquisition of TERA Finlabs is lined up with Razorpay’s procedure of financially supporting however many MSMEs as could be allowed by building center skills in capital solutions, credit underwriting, and data driven risk management capacities.
“TERA will give its whole technology stack, risk management abilities, and onboarding solution to create and enable a credit line for Razorpay’s merchant network,” a statement said. Razorpay Capital alongside TERA Finlab’s technology capacities will be able to support credit needs of more than 10,000 organizations in India by the following year, the statement said.
Razorpay had forayed into the business-to-business (B2B) small and medium-sized enterprises (SME) lending space with the launch of Razorpay Capital in 2019.
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