Razorpay has acquired IZealiant Technologies, a fintech startup that provides payments technology solutions for banks for an undisclosed amount.
The IZealiant Team will continue to work out of Pune and through this acquisition, Razorpay will expand its headcount by establishing an office in Pune.
The acquisition of Pune-based startup will further strengthen Razorpay’s banking solutions arm to build innovative payment banking technologies for partner banks, so that both businesses & their end-consumers enjoy a faster, seamless and secure payment experience.
Founded in 2015, IZealiant provides mobile-first, API-enabled, and cloud-ready payment processing products for banks and financial institutions.
This marks Razorpay’s fifth acquisition. Prior to this, the company had acquired Malaysia-based fintech firm Curlec, SaaS platform TERA Finlabs, payroll & HR management solution Opfin and faud analytics platform Thirdwatch.