With this acquisition, Razorpay will get access to BillMe’s client base of over 4,000 merchants, including companies such as McDonald’s, Burger King, Decathlon, Baggit, Relaxo Footwear, and Cinepolis among others.
The company did not mention the financial terms for the acquisition.
Founded in 2018, BillMe assists merchants with digital invoicing. Razorpay said businesses can go live with digital invoicing in under 10 minutes as opposed to month-long processes requiring minimal tech investments on the merchant-side owing to BillMe’s integration capabilities.
“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. Through such digital bills, their associated dashboards, and analytics behind them, we plan to scale up a simple bill into a multidimensional tool for merchants to understand, engage, and target their customers much more effectively,“ said Shashank Kumar, MD & co-founder at Razorpay.
“With Razorpay, we now have a large scope to deepen our tech expertise and create a difference for our businesses. Reinforcing integrations across all Point of Sale touchpoints enhances the value we aim to provide to our clients,” said Kuber Pritmani, co-founder of BillMe.
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Razorpay is currently valued at $7.5 billion.