Chennai-based fintech IppoPay acquires risk management startup Tutelar
- ByStartupStory | September 7, 2022
A Chennai-based payment gateway firm called IppoPay that is backed by Coinbase Global, Better Capital and Blume Founders Fund, has acquired Tutelar a risk management startup for an amount that remains undisclosed.
Tutelar was started by former Aggrepay CEO Pradeep Kumar. He has also worked with EBS, which was acquired by Worldline and in risk verticals at Axis Bank, HDFC Bank and HSBC implying that he has over 20 years of experience in risk management and payments field. Following the acquisition, Pradeep Kumar will be joining IppoPay as chief risk officer.
“Tutelar was just an idea when Pradeep was speaking with us. We worked together with him to understand the product and how it is designed as our aspiration is to build a full-stack infrastructure offering which is relevant for banks and other large sized non-banking players.Addition of Tutelar makes IppoPay an important constituent in the fight against fraud in the payments space,” said Mohan K, CEO, IppoPay.
“We wanted to partner with someone who will help us build on this vision and will take this product global. We believe IppoPay is the right home for Tutelar and they have the chops to help us achieve our vision,” said Kumar.”
Post this acquisition, the company plans to enter the payments infrastructure play. “Tutelar is our first and a very important addition to the full-suite infra-stack that IppoPay is building,” said Mohan added.
IppoPay is a fintech startup that helps with digital payment, gateway, and payouts solutions for SMEs, homeprenures, and freelancers.
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