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Tiger Global backed hyperlocal mobile marketplace, Zopper, has acquired point of sale (PoS) software company EasyPOS for $5 Mn (INR 33 Cr) in a mixed cash and equity deal, reports ET.
Started in 2009, EasyPOS, provides customised cloud-based software solutions for small and medium enterprises. The company’s acquisition will add 350 sellers to the Zopper’s platform, which works on a commission-based model with hyperlocal businesses.
As for Zopper, the move is directed at raising additional revenues through the PoS solution and increasing stickiness in the network of small and medium businesses.
In a statement Neeraj Jain, co-founder of Zopper, said, “For us the acquisition will provide a better solution to offer to the SMEs who work with us. It is difficult to sell a PoS solution but the hyperlocal discovery piece we add will be an additional value proposition.”
Founded by serial entrepreneurs Surjendu Kulia and Neeraj Jain, Zopper, combines the benefits of shopping at a retail store with the convenience of shopping via mobile phones. It is currently present in 22 cities across the country and features over 15,000 offline retailers on its platform.
Jain added that the company is currently making gross profits in the business and is also looking to sign up major electronics retail chains on its as our platform.
Earlier in February, Zopper had tied up with the instant messaging platform, Viber, in order to reach more customers through the new way of engagement.
It has raised over $27 Mn in venture funding and is backed by investors such as Tiger Global, Blume Ventures and Nirvana Ventures Advisors.
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