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Foodpanda’s former MD Rohit Chadda-led multi-channel offline payment platform Paylo.in has acquired in-restaurant payment app Ruplee for an undisclosed amount.
Founded in October 2014 by Natasha Jain, Ruplee, was launched with an aim to capture the offline payments space in the dine-in segment. It’s app takes offline restaurant payment experience to online. It connects to a payment gateway where you can pay through wallet, credit card, netbanking or any other payment mode. It has already partnered with over 300+ restaurants in Delhi NCR.
Natasha Jain, founder & CEO at Ruplee said, “The partnership with Paylo spearheaded by Rohit Chadda is a massive move ahead for a young & dynamic entity like Ruplee. The rich experience in the Indian ecommerce market that Rohit & Paylo’s team bring, will enable us to rapidly scale and congeal our position as a market leader.
As per a statement from the company, the development will see a merger of both teams and products helping Ruplee evolve into an omni-channel payment platform from an app-only play.
Rohit Chadda, founder of Paylo.in said, “With both Ministry of Finance and 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.”
Paylo.in team’s expertise in building and scaling businesses. It will help Ruplee’s current management capitalise on their technical experience in the F&B payment space and build on foundation laid by them.
Rohit exited Foodpanda and founded Paylo.in with a vision to digitise offline retail payments. Founded in 2015, the team at Paylo.in comprises of experienced ecommerce professionals who have worked on & scaled early stage startups. The startup had raised seed funding from investors in August last year.
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