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Bengaluru-based Obopay, a mobile payment solutions company, has acquired consumer technology firm Mubble.
Mubble is backed by Accel Partners and Nandan Nilekani.
While Obopay did not specify the size of the deal, it said the move was part of the company’s long-term strategy to aggressively strengthen and enhance its data analytics capabilities and mobile app expertise.
After the acquisition, Ashwin Ramaswamy, co-founder and CEO of Mubble, which has built a cloud-based analytics framework with around 10 million users, will join Obopay.
Shailendra Naidu, CEO, Obopay, said the acquisition of Mubble was a significant step in strengthening his company’s service offerings in India and the international markets. Ramaswamy, Co-founder and CEO, Mubble, added that the company believed in leveraging data streams from high-frequency consumer use-cases, (such as recharge transactions or news consumption) as an entry into the payments space.
Obopay is present in four of the top-five mobile money markets across the globe, having powered around 11 per cent of global mobile money transactions, according to the company.
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