Chennai Fintech IppoPay acquires risk management startup Tutelar
Verticalised payments infrastructure startup IppoPay announced that it is acquiring the business of Tutelar, a full-stack AI-based Risk Management Company. 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, mis-selling prevention, etc benefiting not only the principals such as merchants and banks but also the intermediaries such as PA-PGs, issuers and fintechs and the TSPs such as payments processors and switch networks.
Mohan K, CEO of IppoPay said “Tutelar is our first and 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. Addition of Tutelar makes IppoPay an important constituent in the fight against fraud in the payments space. We are also pleased to welcome Pradeep Kumar, founder of Tutelar and former CEO of Aggrepay to the IppoPay family as our risk specialist adding depth to our senior management bandwidth.”
Pradeep Founder/CEO of Tutelar said “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 wanted to partner with someone who will help us build on this vision and will take this product global. We believe IppoPay is the right home for Tutelar and they have the chops to help us achieve our vision.”
IppoPay is a verticalised payments solutions company providing payment infrastructure to small businesses in Tier-3 to 6 towns, and other large TAM (Total Addressable Market) business segments with unique needs such as education and agri-tech. The Company has over 1,70,000+ MSME merchants in Tamil Nadu. Recently IppoPay brought on-board a senior payments veteran Atish Shelar with 2 decades experience in payments space across HDFC Bank, Billdesk and M2P. The Company is invested into by Coinbase Global Inc., Better Capital and Blume Founders Fund.