Poshvine was acquired by Razorpay for an undisclosed sum, and its 36 employees will work for Razorpay in its loyalty and rewards vertical.
GLOBengaluru-based Poshvine, a loyalty and engagement solution, has been purchased by Razorpay, an online payment gateway, for an undisclosed sum. With a value of almost $7 billion, it is one of the most valuable fintech businesses. Shashank Kumar, who serves as both the company’s managing director and founder, established the business.
According to sources, this is Razorpay’s fourth purchase of the year, and the 36 Poshvine employees who join Razorpay will work in the company’s loyalty and rewards vertical. Poshvine was created in 2011, and with its offers and reward management solutions, it helps banks, fintech companies, and payment networks enhance consumer engagement.
