Indian fintech Razorpay acquires Ezetap in $150 million deal

Oluwajuwonlo Afolabi -

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.