Razorpay acquires majority stake in digital payments peer

Indian fintech unicorn Razorpay has acquired a majority stake in digital payments firm Ezetap, marking the former’s third acquisition of the year, Entrackr reported.

The acquisition was done in multiple transactions and will see Razorpay holding an over 80% stake in Ezetap, according to the latter’s regulatory filings.

While the remaining stake is currently in the hands of early investor Helion Ventures, sources told Entrackr that Razorpay intends to acquire the VC firm’s shares soon. The deal is expected to be worth up to US$120 million, which will be paid for in a mix of cash and stock.

Razorpay had acquired Malaysian payments firm Curlec in February, then bought Indian fintech startup IZealiant Technologies in March.

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