Application for the Unified Payments Interface (UPI) Fintech startup BharatX was purchased by Super.money in order to expand its credit portfolio, especially in the area of checkout financing.
The business, however, kept the deal’s financial details a secret.
Following the acquisition, Super.money and BharatX’s core team will collaborate closely, combining their technological know-how to expand the super app’s credit offerings on UPI.
Super.money claimed the acquisition helps achieve its objective of providing easy, flexible, and paperless credit options in order to increase access to financial services.
Additionally, Super.money announced that it has purchased the technology, intellectual property, and staff of BharatX, which will proceed to manage current loan cycles until it is shut down.
E-commerce giant Flipkart introduced Super.money in June of last year to provide digital financial services like deposits, credit, and payments.
PhonePe leads the UPI app market with 47.67%, followed by Google Pay and Paytm, with 36.38% and 6.78% market shares, respectively. In terms of the quantity of transactions handled, Super.money is also one of the top ten UPI apps.
