fbpx

March 30, 2021Blog Posts

Amazon acquires Indian retail startup Perpule

TechCrunch

Amazon has acquired a startup in India that is helping offline stores go online, the e-commerce group’s latest attempt to make inroads in the world’s second most populous nation where brick and mortar continue to drive more than 95% of sales.

The American e-commerce group said on Tuesday evening that it has acquired Perpule, a four-year-old startup. A regulatory filing showed Amazon Technologies paid $14.7 million to acquire the Indian startup in an all-cash deal. The company is expected to spend an additional $5 million or so to compensate Perpule’s employees.

Perpule, which had raised $6.36 million (per insight platform Tracxn), offers a mobile payments device (point of sale machine) to offline retailers to help them accept digital payments and also establish presence on various mini app stores including those run by Paytm, PhonePe and Google Pay in India.

“Perpule has built an innovative cloud-based POS offering that enables offline stores in India to better manage their inventory, checkout process and overall customer experience,” an Amazon spokesperson said in a statement.

“We are excited to have the Perpule team join us to focus on providing growth opportunities for businesses of all sizes in India while raising the bar of the shopping experience for Indian customers.”

TalScale

Source

Looking for weekly M&A News updates?

TransactionWatch is a weekly newsletter covering the most important and relevant merchant acquiring M&A activity. This first-of-its-kind newsletter was developed for the world’s cutting-edge payments executives. See an example edition.

How Do I Sign Up?
Click here to visit the TransactionWatch landing page and complete the subscription form. You will receive a confirmation email and begin to receive TransactionWatch every Friday.

  • Share this post: