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Indian fintech Razorpay acquires Ezetap in $150 million deal

Razorpay, an India-based unicorn fintech has acquired Ezetap, an offline-focused payment solution platform in a $150 million worth deal, to foray into the offline payment space. * As part of the deal, $100 million will be paid out in cash to Ezetap's stakeholders, familiar sources claim. * Chamath Palihapitiyal-led Social

Oluwajuwonlo Afolabi profile image
by Oluwajuwonlo Afolabi
Indian fintech Razorpay acquires Ezetap in $150 million deal
Photo by Towfiqu barbhuiya / Unsplash

Razorpay, an India-based unicorn fintech has acquired Ezetap, an offline-focused payment solution platform in a $150 million worth deal, to foray into the offline payment space.

  • As part of the deal, $100 million will be paid out in cash to Ezetap's stakeholders, familiar sources claim.
  • Chamath Palihapitiyal-led Social Capital and Prime Venture Partners, investors in Ezetap will also get shares in Razorpay as part of the deal.
  • Razorpay will deploy $50 million to grow its business in the offline payment space, following this acquisition.
  • It will also integrate its online payment solution with the offline payment solution as a one-stack technology solution in the payment space.
  • Founded in 2011, Ezetap offers POS terminals and solutions to offline merchants and payment platforms to provide loyalty and reward benefits to their customers.
Oluwajuwonlo Afolabi profile image
by Oluwajuwonlo Afolabi

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