Razorpay Acquires Digital Invoicing Startup BillMe According to the official release, the duo will strategically work towards empowering businesses with a hybrid model for better customer engagement. This marks the eighth acquisition deal done by Razorpay.
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Razorpay, a full-stack payments and banking platform for businesses, announced the acquisition of BillMe, a Mumbai-based digital invoicing and customer engagement startup.
According to the official release, the duo will strategically work towards empowering businesses with a hybrid model for better customer engagement. BillMe has served over 4000+ businesses along with managing over 15,000 retail POS.
"Our vision has always been to build Razorpay as a truly trusted one-stop shop for everything payments, for businesses of all kinds. Embarking on our omnichannel journey last year, the timing couldn't be more opportune to amplify our prowess. We are thrilled about getting a disruptor like BillMe on board. With the global digital receipts market size poised to reach $2.3 billion by 2027, we aim to now anchor this massive opportunity for businesses and help them stand out by engaging and retaining their customers better while strengthening their marketing capabilities," shared Shashank Kumar, MD and Co-founder, Razorpay.
"Since BillMe's inception, we have worked towards revolutionizing India's Retail Point of Sale landscape, establishing ourselves as the trusted partner for retailers in all things related to 'Digital Invoicing & Post-Purchase Customer Engagement.' Through tech innovations, we have enhanced customer experience and provided retailers with valuable data insights to cement BillMe as the pioneer in this industry. With Razorpay, we now have a large scope to deepen our tech expertise and create a difference for our businesses," adds Kuber Pritmani, Co-Founder, BillMe.
The acquisition will have Razorpay-generated digital bills to have better merchant-customer engagement without friction with a high degree of customization including feedback and survey options in the bill. BillMe's abilities can make businesses go live with digital invoicing in less than 10 minutes. Additionally, merchants will be provided with self-serve dashboards to analyze customer behaviour and make custom campaign rules. Meanwhile, customers will benefit from a more streamlined and faster checkout and will prevent loss or misplacement of physical bills.
This marks the eighth acquisition deal done by Razorpay. The financials around the deal remain undisclosed.
