Paytm acqui-hires Balance.Tech for an undisclosed amount
With the acquisition Paytm aims to get the great insights in building intelligent and elegantly designed products for its users.
By Pratik Bhakta, ET Bureau |
ThinkStock Photos
BENGALURU: One97 Communications that owns digital payments company Paytm has acquired Bengaluru based smart-savings management startup Balance.Tech for an undisclosed amount.
With the acquisition Paytm aims to get the great insights in building intelligent and elegantly designed products for its users. Further the six member team has joined the Paytm product and design team and is working on further enhancing Paytm’s user and merchant interfaces.
“They have created a fantastic product with real user engagement. As we constantly look to create customised and intuitive user experiences, the Balance.Tech team will be an invaluable part of this journey,” said Madhur Deora, Chief Financial Officer, Paytm.
Ankit Kumar who cofounded Balanc.Tech said that the company was building a platform which could make savings a delightful experience for its users and its automated products were also designed to help consumers reach their goals, mainly aided by their conversational personal savings assistant.
“We look forward to bring in computational intelligence, unique design and proprietary algorithms with Balance to help Paytm users accomplish more with their money,” said Kumar.
With the acquisition Paytm aims to get the great insights in building intelligent and elegantly designed products for its users. Further the six member team has joined the Paytm product and design team and is working on further enhancing Paytm’s user and merchant interfaces.
“They have created a fantastic product with real user engagement. As we constantly look to create customised and intuitive user experiences, the Balance.Tech team will be an invaluable part of this journey,” said Madhur Deora, Chief Financial Officer, Paytm.
Ankit Kumar who cofounded Balanc.Tech said that the company was building a platform which could make savings a delightful experience for its users and its automated products were also designed to help consumers reach their goals, mainly aided by their conversational personal savings assistant.
“We look forward to bring in computational intelligence, unique design and proprietary algorithms with Balance to help Paytm users accomplish more with their money,” said Kumar.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
ADVERTISEMENT
