Wibmo Inc., USA has acquired India based, Mypoolin, a payments technology company, in an undisclosed cash and stock deal. Mypoolin will continue to operate its team from Bengaluru as an Indian subsidiary of Wibmo.
“Mypoolinisa very strong technology company in the bank account-based payment space in India. With UPI and Aadhaar based market leading solutions in this rapidly growing segment, Mypoolin expands our offering in consumer payments and opens some very exciting opportunities”, said Govind Setlur founder a strong focus on innovation and rapid adoption of technology to meet market needs, Mypoolin aligns well with our own culture of being the cha added.
Incorporated in January 2015, Mypoolin has been backed by Accel Partners, Qualcomm Ventures, Investopad and prominent angel investors like Rajan Anandan, Sharad Sharma, Sunil Kalra and more. They were the Indian winners of a convertible note worth USD 250,000 via QPrize in the same year.
“With Wibmo, we have a perfect fit forbroadourrangeproducts,ofsolutions creatin to meet the rapidly evolving every day payment need of consumers and merchants in India.” said Singh,AnkitCo-founder, Mypoolin.
“Our focus has always been to build products for the futu testament to the same. We are very happy to accelerate and scale up our impact journey with Wibmo, given their deep expertise in the domain of di Taneja, Co-founder, Mypoolin
The products & technologies of Mypoolin would continue to grow as well as the two companies would leverage their strengths for future business use cases in this fast paced fintech market.