Hyperlocal marketplace Zopper has acquired EasyPOS Solutions in a cash and stock deal. Zopper, however, did not disclose the size of the deal. EasyPOS Solutions is a cloud based point of sale software for billing, inventory, employee and loyalty management.
Following the deal, EasyPOS co-founders will join Zopper’s senior management team.
Retailers who have EasyPOS installed will be able to operate on Zopper through EasyPOS’ interface including adding prices to Zopper platform, sharing inventory and accepting and shipping orders. Zopper’s platform currently features over 15,000+ offline retailers. The EasyPoS acquisition will add 350 sellers to the Zopper platform, which works on a commission-based model with hyperlocal businesses, according to this Economic Times report.
In June 2015, Zopper raised $20 million in a Series B round of funding from Tiger Global and Nirvana Ventures Advisors. Zopper had previously raised $5 million in a round of funding in July last year from Tiger Global and existing investors Nirvana Venture Advisors and Blume Ventures. The company had also raised an undisclosed amount of investment from investors like Nirvana Ventures Advisors, Blume Ventures, Canaan India MD Rahul Khanna and Flipkart co-founders Sachin and Binny Bansal in April 2013 and had raised investment from Blume Ventures and VentureEast in June 2012.
Developments in the POS terminal space
– In February, Ezetap partnered with FreeCharge to accept wallet payments on their mobile POS terminals. Earlier in October 2015, Ezetap had announced universal mobile wallet acceptance on its platform. Around the same time, the company partnered with the State Bank of India to launch ‘Chota ATM’, a solution that can double as an ATM device as well as a PoS terminal that can accept payments from any debit and credit card.
– Payment solutions provider Oxigen Services introduced ‘Super PoS’, a device that will upgrade a network of 200,000 locations under the Jan Dhan Yojana. According to the company, it will bring the platforms of financial inclusion, cards payment and recharge/bill payments on the PoS device.
– In July 2015, Mumbai-based mPOS solutions provider Mswipe raised $25 million in a series C round of funding from new investors Falcon Edge Capital, Ola Cabs and Meru Capital, and existing investors Axis Bank, Matrix Partners India and DSG Consumer Partners.
– In June 2015, payments company iKaaz launched a new new point-of-sale terminal which would allow tap-and-pay transactions through smartphones without Near field communications (NFC) enabled. The device called MOWA Wave would be available for all merchants in Bangalore and is expected to be rolled out by August.