Oxigen Services India Pvt Ltd, a payments solutions provider, has acquired a 51% stake in United Villages Network Pvt Ltd, a distributor of goods that uses mobile technology, operating in rural markets, reports Techcircle. The financial details of the deal have not been disclosed. The report states that the deal took place over a year ago, but the transaction was not made public.
Post-acquisition, the existing management team at United Villages would continue to operate independently, but Oxigen has appointed a few board members as its nominees; United Village plans to use Oxigen’s mobile based wallet system to enable mobile based payment solution for its customers in rural areas. Currently, United Villages takes an order from a customer via voice calls and SMS.
Founded in 2006 and based in Jaipur, United Villages provides communities with digital access to local products and services through Kiosks powered by WiFi. The company also acts as a mobile-based distributor of goods operating in rural markets.
It essentially enables retailers in rural Rajasthan to order for products with an SMS and claims to deliver the products within 36 hours. United Villages targets villages with less than 5000 population which the FMCG marketers prefer to ignore. The company loads the retailers’ mobile with an application to get in touch with United Villages’ sales support or place an order. The company claims to serve 4,500 retailers across 1,000 villages in Jaipur and Kota region in Rajasthan. Apart from that, United Villages have also launched a washing soap and a dishwasher, both under the UV brand name, as reported by Business Today.
Oxigen Services India Pvt Ltd was started in 2004 which offered payment services such as mobile recharge, booking airline/rail/bus/movie tickets, games, donations, etc. through its platform. The company recently tied up with Nokia India to allow users to renew their Nokia music subscription. Apart from that, Oxigen also provides merchant payments to telecom operator, bank led wallets and online Banking portals like Airtel Money, ICICI Quick Shopping, SBI, HDFC, AXIS Bank, Corporation Bank, Amex, among others.