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The Silicon Review Asia

Razorpay Acquires Risk Tech SaaS Startup TERA Finlabs

Razorpay Acquires Risk Tech SaaS Startup TERA Finlabs

Razorpay has acquired Bengaluru-based risk tech SaaS startup TERA Finlabs, a subsidiary of UK-based digital lender, GAIN Credit. The cost details of the acquisition were not disclosed.

"This acquisition of TERA Finlabs is aligned with Razorpay''s strategy of financially supporting as many MSMEs as possible by building core-competencies in capital solutions, credit underwriting, and data-driven risk management capabilities,” said Razorpay in a statement. "TERA will provide its entire technology stack, risk management capabilities, and onboarding solutions to create and enable a credit line for Razorpay''s merchant network."

Razorpay further said that its Razorpay Capital coupled with TERA Finlabs will be able to address the credit needs of 10,000+ businesses in India by next year.

This is Razorpay’s third acquisition within three years. The company had previously acquired Thirdwatch in 2018 and Opfin in 2019.

"MSMEs were an underserved market for a long time. However, in the last 16 months, they have started to show rapid growth with their adoption of digital. And this has created an opportunity for significant disruptions in the lending sector - Embedded Credit is one such innovation that I am certain will transform this space," Pradeep Rathnam, co-Founder and CEO of TERA Finlabs, said. TERA Finlabs’ robust end-to-end platform will enable new entrants in the market to build a scalable and profitable credit business.

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