”The idea is to build scale organically and acquire smaller companies to grow both organically and inorganically. We closed last financial year with revenue in the range Rs 272-280 crore which we plan to double in the next two to three years,” he said. The company caters to more than 60 lakh merchants in sectors, including education, government, retail, BFSI, and healthcare.
NTT Data Payment Services India, a financial technology startup established in India, has raised Rs 90 crore from its Japanese parent company NTT Data Corporation to expand its capabilities and treble revenue in the next two to three years. The funds would be used to scale the company solutions in the payment aggregator area and to acquire smaller companies to boost its footprint in the financial technology segment, according to NTT Data Payment Services India CEO Dewang Neralla.
”With India being one of the core markets for NTT Data, this capital infusion will further strengthen our payments business and is in tandem with our long-term growth strategy. ”As there is a huge untapped market, we will explore both organic as well as inorganic opportunities. The funds will only give us further impetus to our growth momentum. Further fund infusion will be decided based on the future opportunities,” Neralla said.
With the new funds, the company is looking to foray into newer segments such as Bharat Bill Payment Operating Unit. Neralla said the company will apply for the Bharat Bill Payment Operating Unit permit this year. At present, the company has around 400 people, which is mix of full-time and contractual employees. It plans to double the headcount to around 800 people by the end of next year.
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