IppoPay, a payment gateway platform for small businesses in Tier-2 and 3 cities, today announced the acquisition of Chennai-based Tutelar, a full-stack AI-based risk management company, for an undisclosed amount.
In a statement, IppoPay said Tutelar builds products for real-time KYC and transaction fraud detection and risk management at every level of the payments value chain. The company enables risk-free onboarding, dispute resolutions, KYC fraud detection, transaction fraud detection, and mis-selling prevention for merchants, banks intermediaries such as PA-PGs (payment aggregators and payment gateways), issuers and fintechs.
“Tutelar is our first and a very important addition to the full-suite infra-stack that IppoPay is building. KYC and transaction fraud detection and risk management is a very critical problem that RBI, NPCI and the industry at large are trying to address,” Mohan K, CEO of IppoPay, said in the release.
The right home
Incorporated in April 2022, Tutelar was founded by Pradeep Kumar, former CEO of AggrePay Payments Solutions. Kumar will now be part of IppoPay as risk specialist.
“We built Tutelar with a vision to improve reporting and control of payments fraud across industries and mis-selling especially affecting banks and financial intermediaries. We believe IppoPay is the right home for Tutelar and they have the chops to help us achieve our vision,” Pradeep Kumar, Founder and CEO of Tutelar, was quoted in the release.