Paytm, the digital payments
provider run by One97 communications Pvt. Ltd, has acquired savings management
application Balance Tech for an undisclosed sum. t will help enhance Paytm’s user
and merchant interface.
Bengaluru-based Balance Technology
Pvt. Ltd helps users invest in debt mutual funds, allowing them to earn
interest up to 8.7% per annum, without a lock-in period. SoftBank and Alibaba-backed
Paytm last month bought New Delhi-based technology start-up Cube26 for an
undisclosed amount along with ticketing platform Ticket New for $40 million in
May this year.
Founded
in 2015, Balance had raised ₹1.5 crore from Bengaluru-based Rainmatter
Technology, a fintech fund and incubator managed by stock broking firm Zerodha
last year.
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