Hyderabad-based payment gateway service provider NumberMall, has acquired Delhi-based BankSmarts Solutions for an undisclosed amount in a bid to strengthen its analytics capability, customer reach and merchant offers.
NumberMall was founded in 2012 and has so far catered more than 30 million customers on its platform through 16,000 touch points. With this acquisition, the company expects to enable new classes of products and services that meet customer needs in assisted ecommerce.
NumberMall boasts a robust merchant network that provides the end-consumer with multiple services. Their work portfolios includes mobile phone-based online citizen services, such as mobile recharges, DTH recharges, data card recharges, post paid bill payments and bus tickets, on a single platform.
Kiran Gali, founder and CEO of NumberMall said –
With this acquisition, we are adding the unparalleled analytics capabilities of BankSmarts to NumberMall’s competencies.
Kiran Gali received angel funding of Rs five crore from SRI Capital this January, spending most of it on drawing in new merchants, building a professional team and developing technology. He reports that annual turnover is around Rs 120 crore, with business growing 10 per cent month-on-month, though the company has set its sights on 25 per cent month-on-month growth.
Founded in 2013, BankSmarts helps marketers reach the right customers for their products and services by creating 360-degree customer maps, including customer preferences, purchase propensity and responsiveness to promotions and offers, based on their profile and past purchases.
BankSmarts, said –
We believe that analytics will play an increasingly larger role in creating value for the customers and position the company even better to dominate the space. We look forward to working closely with the NumberMall team to ensure a smooth transition and complete the transaction as quickly as possible.