iKaaz

paymentsmobile/digital walletpos/mobile pos

STATUS: Acquired/Merged
FOUNDING YEAR: 2012
LOCATION: India
Last Update: 09/07/2020

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

About

iKaaz offers a mobile payments platform for enterprises, business correspondents and merchants in developed and emerging markets to enable them to extend cashless transactions to their customers.

MEDICI Analysis

iKaaz was acquired by Grab in Jan 2018, it offers a mobile payments platform for enterprises, business correspondents and merchants in developed and emerging markets to enable them to extend cashless transactions to their customers.

Focus

PRODUCTS & SERVICES

MPOS - NFC Reader, Mobile wallet application, Cloud Platform, NFC Tags. It provides an alternative to the expensive POS equipment with just a feature in a mobile phone to settle payments electronically.

REVENUE MODEL

Licensing, Transaction revenue split

MAIN CLIENTS

Empire Group of Hotels

Nandhini Group of Hotels

United Restaurants Ltd (US Pizza)

Donut Baker

Rolls on Wheels

Imperial Restaurants

Just Bake

Juice Junction

Chung Wah

Vasudev Adigas

Imperia Group Hotels

Village Hyper Market

Top in Town

Big Market

Family Mart

City Shoppe

Fresh N More Super Markets

MK Ahmeds

EXISTING PARTNERSHIPS

DCB Bank

RBL Bank

Family Bank (Kenya)

EDGE financial systems (EFSL)

FCMB Bank

PRIMARY PROBLEM SOLVED

Convenience

COMMENT

It offer a cost effective solution to speed up the checkout time for the customer by processing their transactions at a lightening speed.

Traction

NUMBER OF TRANSACTIONS:

3 M

ACTIVE USERS:

0.0050

ACTIVE USERS COMMENT:

0.005M are merchants

People

FOUNDERS

Soma Sundaram

Pavan Muralidhar Chengi

BOARD MEMBERS AND ADVISORS

Mukesh Agrawal

Ananda Kallugadde

NUMBER OF EMPLOYEES

11-50

INVESTORS:

Ananda Kallugadde

Momentum

FUNDED

YES

DATE OF LAST FUNDING

Jan 2014

LISTED

NO

For Investors

FUNDING NEEDED:

$10 M

MONTHS LEFT WITH CURRENT CASH BURN RATE:

24 months from 28 Sep, 2017

BASICS

STATUS:

Acquired/Merged

FOUNDING YEAR:

2012

LOCATION:

India

Views:

122 VISITORS | 219 VIEWS
TOTAL EMPLOYEES
11-50

About

iKaaz offers a mobile payments platform for enterprises, business correspondents and merchants in developed and emerging markets to enable them to extend cashless transactions to their customers.

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

MEDICI Analysis

iKaaz was acquired by Grab in Jan 2018, it offers a mobile payments platform for enterprises, business correspondents and merchants in developed and emerging markets to enable them to extend cashless transactions to their customers.

Focus+
Momentum+
Traction+
People+
For Investors+
Other+

Join the exclusive global FinTech community

Be a part of the global FinTech community on Slack

iKaaz

About

iKaaz offers a mobile payments platform for enterprises, business correspondents and merchants in developed and emerging markets to enable them to extend cashless transactions to their customers.

Focus

PRODUCTS & SERVICES

MPOS - NFC Reader, Mobile wallet application, Cloud Platform, NFC Tags. It provides an alternative to the expensive POS equipment with just a feature in a mobile phone to settle payments electronically.

REVENUE MODEL

Licensing, Transaction revenue split

TOP PROBLEM SOLVED

Convenience

PRODUCT DEVELOPMENT STAGE

V2.0 or BEYOND

PRIMARY CUSTOMER TYPE

Enterprise - Banks or Financial Institutions

Enterprise - Retailers

PRODUCT ATTRIBUTES

SaaS

White label

Customer facing

Momentum

FUNDED

YES

TOTAL FUNDING:

$1 M

LISTED

NO

FUNDING SERIES
Seed --- USD1 M