IppoPay, a Chennai-based fintech Startup, has secured an investment from Mithun Sacheti, the Founder of CaratLane and Siddhartha Sacheti, CEO of Jaipur Gems.
IppoPay specializes in facilitating digital payments for small-scale merchants, focusing particularly on Tier II and III cities and rural areas. The company has a significant presence in Tamil Nadu, and 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 helping MSMEs open current accounts and enable transfer of funds. The company has also successfully obtained TPAP approval from NPCI.
“We are thrilled to welcome Mithun and Siddhartha. They have been instrumental in providing invaluable guidance for the growth of the company” said Mohan Karuppiah, CEO, Ippopay.
Mithun Sacheti said, “We are excited to join forces with IppoPay. Mohan’s vision to improve the way the MSME households bank, transact, and invest, helped us build conviction on IppoPay’s ability to build a sustainable fintech platform for MSMEs in India.”
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