Ippo Pay is a fintech start-up which helps in the payment infrastructure for businesses as in collecting and distributing from the vendors and the customers. The target clients involved are small business owners, merchants, freelancers, homepreneurs, and women entrepreneurs in the Tier 2 and Tier 3 cities and rural areas of the Indian market.
Ippo Pay – Modus Operandi
They are working with different people and businesses like:
Social Commerce Businesses:
They offer help and support in bringing the offline operating businesses online. They aid in creating an online portfolio and showcase their variety of products. Online marketing of the products helps in their better visibility over social media and thus helps in the increment of sales.
Subscription businesses:
Small business enterprises like, milk vendors, AMC Service providers, and newspaper agencies which help in receiving payments on a daily, monthly, or recurring basis.
The mode of receiving payment method is not a cumbersome process and doesn’t require any kind of additional hardware. This can be done through your mobile or by UPI. There are associations with sellers, vendors, or stores for accepting payments by card. There are provisions for accepting contactless payments using the smartphones of sellers. There are various options for the payment gateways used for the payment infrastructures by Ippo Pay. The payments are done by Payment Links, Web API, Invoices, SDKs, and some e-commerce plugins. International as well as domestic payments are accepted with Ippo Pay.
Ippo Pay – Startup Snapshot
Ippo Pay is a Chennai-based payment infrastructure fintech start-up. The company, was founded in November 2020 at the time of the pandemic. The founder and the CEO of Ippo Pay is Mohan K and other co-founders are Jai Kumar and Thangaraj Sofiya. It holds a record of around 8000 crore transactions done online. It has tie-ups with almost 100,000 retail stores for UPI payments from the city of Chennai to the Tier 6 cities of Tamil Nadu.
This neo-banking platform helps the growing small-scale businesses holding no bank accounts simplify their money transactions.
Ippo Pay – Funding
The fintech start-up has raised a total of $ 2.4 million in a recent seed round funding. There are 7 investors in the company with Kuberan Marimuthu and Blume Ventures being the recent funding partners. The other investors are: Coinbase Ventures, Archana Priyadarshini, Better Capital, Sailesh Ramakrishnan, and Prabhu Rangarajan. The company has two acquisitions under its name that is, Tutelar and Roamsoft.
Ippo Pay – Future
The company has set a target of $ 100 million achieved by the year 2028. The three main lead areas for growth are payments, insurance, and lending which is expected to grow in the coming three months. They aim for 30% growth, to be achieved every year for the next four years. Ippo Pay looks to have a more progressive and promising future in terms of growth.
