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March 22, 2016updated 04 Apr 2017 3:59pm

Payments platform Paylo buys in-restaurant payment app Ruplee

Paylo.in, a multi-channel offline payment platform led by Foodpanda's ex-managing director Rohit Chadda, has acquired in-restaurant payments app Ruplee I Pay Solutions for an undisclosed sum.

By Verdict Staff

Paylo.in, a multi-channel offline payment platform led by Foodpanda’s ex-managing director Rohit Chadda, has acquired in-restaurant payments app Ruplee I Pay Solutions for an undisclosed sum.

The deal will see a merger of both the firms’ teams and products. It will also enable Ruplee to evolve into an omni-channel payment platform from an app-only play besides expanding its cashless payment experience to more verticals.

Paylo.in team will help Ruplee’s current management to capitalise on technical experience in the food and beverage payments space and build on the foundation laid by them.

Founded in 2015 by Chadda, Paylo had raised seed funding from investors in August 2015.

Established in October 2014, Ruplee captures the offline payments space in the dine-in segment. The company has already partnered with over 300 restaurants in Delhi NCR.

Ruplee founder Natasha Jain said: "The rich experience in the Indian e-commerce market that Rohit and Paylo’s team bring will enable us to rapidly scale and congeal our position as a market leader."

Chadda said: "With both the Ministry of Finance and the Reserve Bank of India recently announcing guidelines to push digital payments and card acceptance infrastructure, the real opportunity for us is now to build on and scale further Ruplee’s current outreach."

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