wordpress blog stats
Connect with us

Hi, what are you looking for?

US-based Wibmo acquires Mypoolin to expand its operations in India

US-based digital payments company Wibmo has acquired a Gurgaon-based payments technology startup Mypoolin for an undisclosed cash and stock deal. This Livemint report pegs the value of the transaction at $1 million.

Mypoolin will continue to operate as an Indian subsidiary of Wibmo, the startup said in a statement. The same Livemint report says the founders will join Wibmo’s India office, which is in Bangalore.

Wibmo’s founder and CEO, Govind Setlur said that the acquisition will allow Wibmo to expand its consumer payments solutions in India, and to explore other opportunities. The California-based company largely provides B2B payment solutions, along with consumer payment services.

Started in 2015, Mypoolin provides payment solution to retailers and allow bank-to-bank money transfer to its users, and it also allows users/ individuals to split and settle bills using Mypoolin’s platform. MyPoolin also lets users pay for gift cards, travel, movies, parties, events, party fundraising or community initiatives in a group, and claims to have partnerships with Paytm, HDFC’s Payzap, UPI, VISA and Mobikwik.

The startup has been backed by Accel Partners, Qualcomm Ventures, Investopad and prominent angel investors like Rajan Anandan, Sharad Sharma, Sunil Kalra and more. In August 2015, MyPoolin bagged funding of $250,000 from Qualcomm Ventures and Accel Partners. It had won the fifth edition of QPrize, the early stage investment competition of Qualcomm Ventures.


In consumer-focused payment solution, the company may face competition with the likes of Paytm. Moreover, since banks themselves have started offering mobile-based payment solutions, the company might have to up its game in the country.

You May Also Like


BharatPe has raised $20 million (₹139 crore) through a debt funding round from Alteria Capital and ICICI Bank. The merchant-focused loan and payments app...


The Reserve Bank of India (RBI) has constituted an internal working group to recommend regulations for digital lending platforms and mobile applications, it said...


The first few days of this year were rife with speculation that Alibaba founder Jack Ma had disappeared. But the fintech tycoon remains elusive,...


In a first for India’s fintech industry, U GRO Capital has filed a patent application with the Indian Patent Office for its score-card based...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to Daily Newsletter

    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ