IppoPay, a one-stop neo-bank for Bharat, has raised $2.1 million in seed funding from Coinbase Ventures, Better Capital, Blume Founders Fund, and a number of high-profile angel investors.
IppoPay, which was founded in November 2020, has helped 50,000 offline merchants and daily wage earners in India’s Tier 2, Tier 3, and rural markets enhance their earnings by accepting internet payments. IppoPay, a pioneer in the Indian neo banking industry, supplies merchants with Business Bank Accounts, Debit Cards, and an end-to-end payments stack in seconds.
Commenting on the funding IppoPay CEO, Mohan K. said “Our goal is to help offline merchants increase their sales and profits 10x while reducing friction in the customer experience. We want to put to an end the tedious and time-intensive tasks of handling finances. IppoPay will work towards servicing and transforming businesses in every region and segment of the Indian economy.”