Razorpay, the fintech unicorn has announced that it has acquired IZealiant Technologies, which is a digital payment firm. The financial details related to the acquisition have not been disclosed. The fintech firm has further added that it will absorb the entire team of IZealiant Technologies as a part of the acquisition.
An acquisition is a great way for Razorpay to achieve rapid growth and strengthen its banking solution wing, allowing it to create innovative payment banking technologies for partner banks. The banking solution wing of the fintech firm works closely with 45 banks in the country and has introduced an array of solutions including Razorpay Token HQ and MandateHQ.
Commenting on this acquisition, Prashant Mengawade has said that the company is delighted to collaborate with Razorpay and play a vital role in their growth journey. He believes that this is the perfect time to join hands as a financial institutions are embracing advanced, flexible, and secure solutions to meet the ever-changing needs of the customers.
