Airpay strengthens financial services portfolio with acquisition of Finfinity Technologies

Airpay has recently finalised the acquisition of Finfinity Technologies, a Delhi-based startup specialising in personal finance management and the developer of the Finmapp app. The integrated financial services platform, airpay, aims to boost its presence across the 'payments to lending to investing' ecosystem through this acquisition, as stated in an official release.

The financial specifics of the transaction have not been disclosed. However, it has been communicated that post the completion of the deal, the entire team of Finfinity, including its founders and staff, will be assimilated into airpay. The acquisition is expected to conclude by March, providing airpay with an opportunity to extend its integrated services globally and implement its 'payment to lending to investing' proposition in target markets.

Founded in September 2020, Finfinity Technologies has cultivated partnerships with over 40 banks and financial institutions, facilitating access to a diverse range of more than 150 products.

Kunal Jhunjhunwala, Founder and Managing Director of airpay, noted the perceived synergies in vision, technological capabilities, and value propositions between the two companies as the driving force behind airpay's first-ever acquisition in its over 11 years of operation. With a history of collaboration with over 200 financial institutions and around 1,000 business partners worldwide, airpay sees this acquisition as a strategic move to further its reach in the international market. The company remains on track to complete the acquisition by March.

(With PTI Inputs)