OBOPAY acquires consumer-technology firm Mubble

  • Acquisition is aimed towards enhancing OBOPAY’s data analytics capabilities and mobile app expertise
  • Prepaid data analytics and content recommendation are two broader synergy areas that OBOPAY intends to capitalize through this acquisition

Bangalore, 21 st September, 2018: Bangalore-based OBOPAY, the global mobile payment solutions company, today announced that the company has acquired the consumer technology firm, Mubble, which is backed by Accel Partners and Nandan Nilekani. The acquisition is a part of Obopay’s long term strategy to aggressively strengthen and enhance its data analytics capabilities and mobile app expertise. Post the acquisition, Ashwin Ramaswamy, co-founder and CEO of Mubble, will be joining OBOPAY.

Speaking about the acquisition, Shailendra Naidu, CEO, OBOPAY, said, “The strategic acquisition of Mubble is a significant step in strengthening OBOPAY’s service offerings in Indian and international markets. Together with OBOPAY’s technical edge and Mubble’s value additions in consumer class applications, we would create products and solutions that will bring about measurable and sustainable difference to our customers. The recommendation algorithms and data analytics capabilities of Mubble will significantly boost our services in all the markets where we operate.”

He further added, “The Mubble platform is ingrained with two fundamental applications – one which provides personalized content in a social context and a utility application built on a smart recommendation framework. These are two broader synergy areas that OBOPAY intends to capitalize through this acquisition.”

Ashwin Ramaswamy, Co-founder and CEO, Mubble, said, “Mubble has always believed in the power of leveraging the data streams from high frequency consumer use-cases, be it recharge transactions or news consumption; as an entry into the payments space. In OBOPAY, we see a dream fit towards this vision of ours.”

Present in four out of top five mobile money markets across the globe and having powered over eleven percent of global mobile money transactions with zero fraud cases, OBOPAY has etched a great growth story for itself by scaling up its product portfolio, business solutions and services. The Mubble acquisition will further elevate the growth curve for OBOPAY with its personalized offerings for digital natives.
Mubble, which is a consumer technology company, has been built on a strong underlying data and analytics framework. The company is powered by a cloud based analytics framework and has over 10 million + users. The platform provides personalized content and recharge recommendations to its users in real-time.

About OBOPAY

Headquartered in Bangalore, OBOPAY is a global mobile payment solutions company offering payment products, solutions, services and business consulting to companies across sectors such as telecom, finance, banks and retail to name a few. The company provides best-in- class technology by providing a unified, robust and secure interface for all payment solution needs.

The key current clientele of the company is spread across 11 plus countries and 3 continents – Asia, Africa, North America – and includes brands like Airtel, Telecel, Azam Group etc. The key driver at OBOPAY, is the vision to excel in service and products, committed to help more and more clients, customers and partners gain from us.
In the year 2010, OBOPAY was named as one of the 50 most innovative companies in the world by MIT Technology under TR50 awards platform. Under World Economic Forum, the company was the only financial services provider in the world to be named Technology Pioneer 2010. OBOPAY was also selected as a 2010 AlwaysOn Global 250 top private companies AO250 Global Summit at Stanford. In 2011, OBOPAY won the Best Multi-channel capability Project Award Winner under The Asian Banker forum. OBOPAY also won the Mobile trax award for mobile banking and payments in 2013.

About Mubble

Mubble has two consumer apps with over 10 million+ users. At its core, Mubble is a consumer technology company that is built on a strong underlying data and analytics framework. Mubble has leveraged this into delivering personalized consumer experience for digital natives in Tier-2 India since 2013. The Mubble platform is powered by a cloud based analytics framework which analyzes over half a billion data points every month, to serve personalized content and recharge recommendations. Mubble has always believed in the power of leveraging the data streams from high frequency consumer use-cases as an entry into the payments space.