Marking its second acquisition, payments solutions firm Cashfree has acquired one-click checkout company Zecpe. Cashfree has not disclosed the financial terms of the transaction.
Hriday Agarwal, the founder of Zecpe, will join the Cashfree Payments team as the head of ecommerce checkout as part of the agreement. Zecpe employees will join Cashfree Payments to help scale the product. Cashfree, which is backed by SBI, reportedly laid off 13% of its workforce, or approximately 80 employees, last month. However, the fintech firm stated that as part of its retrenchment plan, it had downsized 6-8% of its employee base.
