IppoPay Secures Investment From Mithun Sacheti And Siddhartha Sacheti
The fintech facilitates digital payments for small-scale merchants, focusing particularly on Tier II and III cities and rural areas
Chennai-based fintech Startup IppoPay, secured an investment from Mithun Sacheti, the Founder of CaratLane, and Siddhartha Sacheti, CEO of Jaipur Gems, said a press release.
IppoPay facilitates digital payments for small-scale merchants, focusing particularly on Tier II and III cities and rural areas. The company with a significant presence in Tamil Nadu, is expanding its geographical footprint, starting with a deep penetration strategy in Andhra Pradesh and Telangana, followed by the rest of South India, including Karnataka and Kerala.
Apart from solving banking requirements and the UPI payment penetration in the unserved sector, the company is also focusing on working with MSMEs to open current accounts and enable transfer of funds. The company has also successfully obtained TPAP approval from NPCI.
Mohan Karuppiah, CEO IppoPay, welcomed Mithun and Siddhartha and said, “They have been instrumental in providing invaluable guidance for the growth of the company"
A vertical of IppoPay, Fin Meadows, operates Tech Fini, a payment infrastructure solution provider, offering a suite of products like UPI switch, card switch and card management tools. Tech Fini has recently completed certification for UPI with NPCI.
IppoPay conceptualises Tutelar, an AI-based fraud detection and prevention tool utilized for onboarding, transaction monitoring and ensuring AML compliance. That is designed to assist clients by actively monitoring real-time payments. Notably, IppoPay as part of its said FRM offering has successfully onboarded JusPay, Lyra, HyperFace, and CAMSPay as clients.
