Info-tech

Paynear Solutions buys Singapore-based GoSwiff International

G Naga Sridhar Hyderabad | Updated on January 08, 2018 Published on October 10, 2017

Transaction processing company, Paynear Solutions, has acquired Singapore-based GoSwiff International Pvt Ltd.

The value of the transactions have not been disclosed.

With this acquisition, Hyderabad-based Paynear Solutions has now got a presence in 16 countries across Asia, Europe, Africa and West Asia, it's Group CEO and MD Prabhu Ram told newspersons here on Tuesday.

In India, Paynear has a presence in about 20 cities.

"We process 10 million transactions every month, but have the capacity to process one million transactions a day," Ram said adding that the aim was to achieve three hundred per cent growth in the next five years.

Paynear had revenues of Rs 35 crore last year and is aiming at Rs 110 crore this year. The headcount is 350. About 150 people will be added in India and abroad this year, Ram said.

GoSwiff had revenue of Rs 144 crore last year with 35 employees.

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Published on October 10, 2017
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