Tech Startup Acquisition – Razorpay acquires IZealiant Technologies

Tech Startup Acquisition – Razorpay, a leading payment and banking platform for businesses, has purchased IZealiant Technologies which is a prominent fintech firm that delivers payments technology solutions for banks. IZealiant is a Pune-based business that provides banks and financial institutions with mobile-first, API-enabled, and cloud-ready payment processing tools.

Razorpay’s Banking Solutions Arm will be strengthened even further as a result of the acquisition of IZealiant, which will help partner institutions develop innovative payment banking solutions. This provides a faster, more seamless, and secure payment experience for both enterprises and end-users.

“I am convinced that the combined strength of two technological firms will provide our partner banks with the required support in developing next-generation solutions and changing market dynamics in the new normal,” said Harshil Mathur, Razorpay’s CEO, and co-founder. “The IZealiant team has a lot of expertise creating and executing sophisticated, high-performance acquiring and issuing systems, and I am certain that we will be able to provide industry-first solutions for Indian banks.”

IZealiant, according to Razorpay, has a lot of banking experience. IZealiant has deployed its ZealPro product suite for more than 50 banks in 18 countries in the last seven years, processing millions of transactions in India, South Africa, Nepal, Bangladesh, Vietnam, Singapore, and Uganda.

The IZealiant Team will continue to work out of Pune, and Razorpay will expand its personnel by opening an office in Pune as a result of this acquisition. Razorpay has now acquired a total of five companies. Razorpay had previously bought Curlec, a Malaysian fintech business. TERA Finlabs (AI-based risk tech SaaS Platform) in 2021, Opfin (payroll and HR administration solution) in 2019, and Thirdwatch (Fraud Analytics AI-platform) in 2018 were among Razorpay’s previous acquisitions. All of Razorpay’s business milestones in the previous few years have been aimed toward becoming a full-stack financial solutions provider, and this purchase is another step in that regard.