Fintech unicorn Razorpay acquired loyalty and reward management solutions provider PoshVine for an undisclosed amount.
PoshVine is a fintech startup that provides commercial banks, payment networks, and businesses with payment-linked loyalty and engagement solutions. As part of the agreement, the entire PoshVine team will join Razorpay and assist the fintech unicorn in developing a payment-linked loyalty infrastructure. PoshVine also claims to have tripled its annualised revenue in the fiscal year 2022. Razorpay claims to have served over 8 million businesses and raised $741 million from investors to date.
