IppoPay
Ippo Pay - Free Invoice software, Payment Link Generator, Payment Gateway Provider.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor investor investor | €0.0 | round | |
| investor investor investor | €0.0 | round | |
| investor investor | €0.0 | round | |
* | N/A | N/A | Early VC |
| Total Funding | 000k | ||
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IppoPay, a fintech firm headquartered in Chennai, was established in 2020 by Mohan K and Jaikumar R. The company positions itself as a payment aggregator, focusing on providing comprehensive payment solutions for both online and offline enterprises. Its business model centers on charging a transaction-based fee, which includes a setup fee and a percentage per transaction, with rates varying based on the payment method used, such as debit/credit cards, UPI, or net banking.
The company's inception is rooted in the founders' direct observations of the challenges faced by small and medium-sized enterprises (SMEs) in India's Tier 2, Tier 3, and rural areas. Mohan K, with a background as a software engineer and experience in developing payment systems, identified a significant gap in the market for accessible digital payment infrastructure beyond the major metropolitan centers. This realization led to the creation of IppoPay, with the mission to financially empower these underserved businesses.
IppoPay's service suite encompasses a payment gateway for websites and apps, payment links for receiving remote payments, and invoicing solutions. A key feature of their offering is the ability for businesses to manage collections and payouts through a single platform. The firm specifically targets small businesses, freelancers, home-based entrepreneurs, and merchants in smaller Indian towns, aiming to facilitate their transition to digital payment acceptance. To better serve this demographic, IppoPay provides customer support in various regional languages, including Tamil, Telugu, and Kannada, which distinguishes it from competitors who may primarily offer support in English and Hindi.
Since its launch, the company has secured financial backing from investors such as Coinbase Ventures, Better Capital, and the Blume Founders Fund. This funding has been directed towards enhancing its technology, expanding its product offerings, and increasing its market presence throughout India. IppoPay processes a significant volume of transactions daily for its merchant base, which is reported to be over 500,000.
Keywords: payment aggregator, fintech, SME financing, digital payments, Tier 2 markets, Tier 3 markets, UPI payments, transaction fees, payment gateway, merchant services
