 "NumberMall acquires BankSmarts Solutions")
NumberMall, a Hyderabad-based merchant-engaged payment gateway services platform, has acquired all the businesses of Delhi-headquartered analytics start-up BankSmarts Solutions for an undisclosed sum.
The acquisition will extend NumberMall’s analytics capabilities, customer reach and merchant offers. The combination is expected to enable new classes of products and services that meet customer needs in assisted ecommerce, the company said on Monday.
“With this acquisition, we are adding the unparalleled analytics capabilities of BankSmarts to NumberMall’s competencies,” said founder and chief executive officer Kiran Gali.
Incepted in 2012, NumberMall had so far serviced more than 30 million customers through 16,000 touch points. It had raised Rs 5 crore from SRI Capital, a seed-stage venture capital fund promoted by serial entrepreneur Sashi Reddi, in late 2014. Founded in 2013, BankSmarts helps marketers reach the right customers for their products and services by creating 360-degree customer maps, including customer preferences, purchase propensity and responsiveness to promotions and offers, based on their profile and past purchases.
“The assisted ecommerce space is addressing a very large opportunity, and NumberMall is one of the leaders in the space,” said Subinder Khurana, founder and CEO of BankSmarts.
“We believe that analytics will play an increasingly larger role in creating value for the customers and position the company even better to dominate the space. We look forward to working closely with the NumberMall team to ensure a smooth transition and complete the transaction as quickly as possible,” he said.
