Razorpay, a full-stack payments and banking platform for businesses, has acquired Mumbai-based digital Invoicing and customer engagement startup BillMe.
Razorpay’s partnership with BillMe is strategically designed to empower businesses with a hybrid model to engage better with end customers, the company said in a press release. It also plans to scale up a simple bill into a multidimensional tool for merchants to understand, engage, and target their customers much more effectively.
Founded in 2018, BillMe eliminates paper bills and substantially increases value-add for merchants with digital invoicing. The startup claims to have served over 4,000 businesses, managing over 15,000 retail POS, including the likes of McDonald’s, Burger King, Decathlon, Baggit, Relaxo Footwear, and Cinepolis among others.
The latest acquisition marks Razorpay’s eighth acquisition to date. In September 2021, it took over PoshVine. The fintech unicorn’s portfolio includes Ezetap, IZealiant Technologies, Curlec, TERA Finlabs, Opfin and ThirdWatch.
Valued at $7.5 billion, Razorpay has consistently transformed the landscape of payment acceptance and banking operations for businesses over the past decade.
According to TheKredible, Razorpay’s operating revenue spiked 76.1% to Rs 1,481.2 crore in FY22 from Rs 841.2 crore in FY21. The company was profitable in FY22. It’s yet to file FY23 numbers.
