The Another acquisition happened in the field of technology which is a good sign of the development, that is between the consumer technology Mubble startup and Obopay which is the Fintech company. The amount yet to be disclosed by both companies.
Mubble is the consumer technology-based startup which is taken birth in the year 2013. The company started by the initiation from the Ashwin Ramaswamy, Pranav Jha, and Raghvendra Verma, based out in Bangalore. The current CEO of the company is Mr.Ashwin Ramaswamy. The startup solves the problems of the mobile recharge by using the data analytics technology.
The company which acquired the Mubble is the Obopay which is also Bangalore based startup, founded in the year 2005 by Shailendra Naidu, who is the CEO of Obopay and it is the consulting payment solutions. The startup is providing the customer with digital payment technology, running successfully since the start of the company. It is solving the major threats faced in mobile money challenges.
This main reason behind the procurement of Mubble by the Obopay is to strengthen the data analytics capabilities, in the mobile applications also to spread the market all over national and international. Both companies raised funds in the larger scale Mubble is funded by Nandan Nilekani former CEO of Infosys and also former chairman and CEO of UIDAI.