Logistics company Delhivery (SSL Logistics) has acquired offline cash collection network of Gharpay which has 750 clients, according to a report by iamwire. Following the acquisition, the Gharpay brand will be owned by Delhivery. The financial details of the deal were not disclosed.
According to the report, the latest funding round raised by the company will go towards developing new payment services and a cash on delivery software & management solution Clink.
Launched in 2011, Gharpay offers a doorstep cash payment network for businesses and claims to have a network of more than 1,000 pincodes across India. It claims to already have more than 500 clients in India including BookMyShow, Info Edge, Cleartrip, Zomato, Groupon, and Jet Airways among others. The company had raised an undisclosed amount of funding from Blume Ventures with participation of existing investors, $200,000 from Sequoia Capital and Kae Capital, and a seed investment of $100,000 from Raju Reddy.
Gurgaon based Delhivery provides logistics and backend solutions for E-Commerce to offer multiple supply chains for retailers. It provides procurement, warehousing, packaging and last mile delivery services. Last year, Times Internet* had picked up a minority stake in the company.
With the rise of E-Commerce companies in India, handling logistics has become one of major issue for E-Commerce companies. Building its own logistic network can be expensive for cost-sensitive startups, so these companies usually outsource the logistics part. Adding offline cash collection network to its services will enable Delhivery to provide a complete package of logistic services required by any E-Commerce company.
*Disclosure: Times Internet is an advertiser with Medianama.