Bengaluru-based MockBank acquires tech start-up Litoro

Started in 2013, MockBank helps candidates prepare for the tests of various government jobs, reports Tech in Asia

In India, the safest job you could have is still with the government. The pay is steady if not great, benefits are many – free or subsidised housing, insurance, and so on, and you’re covered for life. Every year, millions of Indians fight for the few thousand job openings with the central and state governments of the country.

That’s the rink of MockBank. This Bengaluru-based start-up will help you prepare for the tests for various government job positions, from stenographers to IT officers. Jobs in the public sector, banking, and insurance are also part of the roster. That’s a market with 20 million to 40 million job aspirants a year, according to MockBank, where the most popular offerings are online mock tests for banking exams. (Banks in India are mostly in the public sector.)
 

MockBank was started in 2013 by Konark Singhal, an IIM (Indian Institute of Management) Bengaluru grad who worked with Bain. His co-founders are former IBM execs Manesh Jain and Ramesh Narayanan, who earlier worked for Sify and other tech companies.
 

It raised $400,000 in seed funding from Blume Ventures in September this year. Today it announced acquisition of Litoro, a custom web and mobile product development start-up in Vijayawada, Andhra Pradesh, which had developed the initial version of MockBank. The entire Litoro team has moved to Bengaluru to be absorbed in MockBank.
 

“We have acquired Litoro primarily for its experienced tech team. That they already knew so much about our product made the decision easy,” says Konark Singhal, MockBank MD.

This is an excerpt from Tech in Asia. You can read the full article here.