Razorpay, a fintech unicorn, announced the purchase of IZealiant Technologies, a renowned Fintech business that provides banks with payments technology solutions, for an undisclosed sum. IZealiant is a Pune-based startup that offers banks and financial institutions mobile-first, API-enabled, and cloud-ready payment processing tools.
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KEY POINTS:
- Razorpay’s Banking Solutions Arm will be strengthened by the purchase of IZealiant, which will develop revolutionary payment banking solutions for partner banks, allowing businesses and their end-customers to enjoy a faster, more seamless, and secure payment experience.
- Razorpay’s Banking team has worked on a number of important projects in India, including Razorpay TokenHQ, India’s first multi-network RBI compliant card tokenization solution, and MandateHQ, an API-based, plug-and-play recurring payments interface for banks.
- “We are pleased to have the IZealiant team join the Razorpay family today,” said Harshil Mathur, CEO and Co-founder of Razorpay, in response to the purchase. I am certain that the combined strength of two technological firms will provide our partner banks with the required assistance in developing next-generation solutions and changing market dynamics in the new normal.”
- “The team at IZealiant has considerable expertise creating and executing sophisticated, high-performance acquiring and issuing systems,” he continued, “and I am certain that together we will be able to offer industry-first solutions for Indian banks.””
- “We are happy to join up with Razorpay and be part of their growth path together,” stated Prashant Mengawade, CEO of IZealiant. Financial institutions are rapidly eager to implement innovative, versatile, and secure solutions to satisfy ever-changing client expectations, and the time couldn’t be better.
- IZealiant is incredibly proud of our customer-centricity and high-performing digital payments systems that we have designed for some of the world’s most prestigious financial institutions.
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