Razorpay, a known fintech unicorn company valued at, over a billion dollars has recently acquired BillMe, a startup based in Mumbai. BillMe specializes in invoicing and customer engagement. This strategic acquisition will empower Razorpay to offer businesses a platform that enhances their interactions with customers. BillMe is recognized for its paperless billing solutions. Currently, it serves more than 4,000 businesses, including renowned brands such, as McDonald’s and Decathlon.
Razorpay, a leading fintech unicorn, has recently completed the acquisition of BillMe, a Mumbai-based startup specializing in digital invoicing and customer engagement. This strategic move is set to empower Razorpay to offer businesses a comprehensive hybrid approach to enhance their interactions with end customers.
BillMe, founded in 2018 by Jai Hemrajani, Rupam Jain, and Kuber Pritmani, has made a name for itself by providing businesses with paperless billing solutions and digital invoicing.
The startup proudly boasts a clientele that includes renowned names such as McDonald’s, Burger King, Decathlon, Baggit, Relaxo Footwear, and Cinepolis, having served over 4,000 businesses and managing more than 15,000 retail points of sale.
Razorpay envisions this acquisition as a means to provide a unified platform to its merchant partners. Through this platform, merchants will have access to their personalized dashboards, enabling them to facilitate cross-sales, promotions, video integrations, banner advertisements, and more.
Shashank Kumar, the Co-Founder and Managing Director of Razorpay, expressed his excitement about welcoming BillMe into the Razorpay family, emphasizing the substantial opportunities presented by the global digital receipts market, which is poised to reach $2.3 billion by 2027. The goal is to empower businesses to engage and retain customers effectively while strengthening their marketing capabilities.
Razorpay aims to transform a simple bill into a multifaceted tool that enables merchants to better understand, engage with, and target their customers. Kuber Pritmani, Co-Founder of BillMe, highlighted the potential for enhancing tech expertise and creating a significant impact on their clients’ businesses through this collaboration.
Notably, this marks the eighth acquisition by Razorpay, which had previously acquired startups like Ezetap, PoshVine, Curlec, and IZeliant Technologies.
In addition to acquisitions, Razorpay has been rolling out new services and features, such as the recent launch of ‘Razorpay UPI Autopay on QR’ in collaboration with the National Payments Corporation of India (NPCI) and the introduction of its first international payment gateway in Malaysia.
Razorpay’s expansion efforts align with reports suggesting the company’s intention to follow in the footsteps of PhonePe by relocating its parent entity back to India from the United States.
In terms of financial performance, the unicorn reported a net profit of INR 7.3 crore in FY22, marking a 20% increase from INR 6.1 crore in FY21. Furthermore, its operating revenue witnessed substantial growth, surging by 76% to reach INR 1,481 crore compared to INR 841.2 crore in the previous fiscal year.
