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Which company has expanded into South-East Asia with the acquisition of a majority stake in a Malaysian fintech firm "Curlec"?
A)
PayU
B)
Razorpay
C)
PayPal
D)
Payoneer

Correct Answer :   Razorpay


Fintech unicorn, Razorpay has announced its first international acquisition by acquiring a majority stake in Curlec, a leading Malaysian firm. Razorpay’s CEO and co-founder, Harshil Mathur said that the deal valued the company at $19-$20 million. Mathur said that Curlec acquisition will mark the first global buyout for Razorpay and that the company will be focussed on emerging markets in South-East Asia including Malaysia, Thailand, Vietnam.
 
Curlec is a Kuala Lumpur-based company, building solutions for recurring payments for modern businesses of all sizes. This also marks Razorpay’s fourth acquisition.
 
Currently South-East Asia is a digital payment powerhouse, having witnessed significant financial transformation over the last few years, driven by changing consumer and retail trends and more inclusive payment options. And while e-commerce is already booming in Malaysia with an estimated market size of $21 billion in 2021, an industry report said it is estimated to grow further to over $35 billion by 2025, fuelled by the emergence of new mobile payment methods, as per Razorpay’s official handout.

Source : Business Today

Published On : February 10, 2022
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