Chennai-based fintech startup IppoPay has announced the raise of an undisclosed amount from CaratLane and Jaipur Gems to build a sustainable platform for MSMEs. Following this announcement, the new funds are set to be allocated towards the process of building a sustainable and secure fintech platform for MSMEs.

In addition, the company will continue to focus on meeting the needs, preferences, and demands of clients and customers in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the local industry. More information on the announcement IppoPay represents a payment aggregator for businesses and companies that collect and accept transactions from clients and vendors. It also provides tools for payment acceptance and processing, generating links and gateways, salary disbursements, POS services, UPI payments, neo-banking API stacks, and more.

At the same time, its application is available for Android customers and users. IppoPay’s services are also available for clients and businesses in Tamil Nadu, and it is currently stretching its leg to other geographic regions in southern Indian states like Andhra Pradesh, Telangana, Karnataka, and Kerala. The platform will also focus on optimising the manner in which MSMEs open current accounts, as well as enabling the transfer of funds and payments.

At the same time, IppoPay’s vertical Fin Meadows will continue to operate Tech Fini, a payment infrastructure solution provider, offering a suite of products like UPI switches, card switches, and card management tools and solutions. Its AI-based fraud detection and prevention products Tutelar is also designed in order to assist customers by actively and securely monitoring real-time payments. The company also mentions that its FRM offering has onboarded clients including JusPay, Lyra, HyperFace, and CAMSPay, with the aim to further develop its partnerships in the future.

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