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August 9, 2018: One97 Communications Limited, that owns the brand Paytm - India’s largest digital payments company has announced the acquisition of Bengaluru based Smart-savings Management Startup named ‘Balance.Tech’ for an undisclosed amount.
Paytm has always been focused on creating amazing user experiences. The ‘Balance. Tech’ team has great insights and track record in building intelligent and elegantly designed products. The 6-member team has joined the Paytm product & design team and is working on further enhancing Paytm’s user/merchant interfaces.
Madhur Deora, Chief Financial Officer & SVP, Paytm said, “We are excited to welcome Ankit, Abhishek, and the Balance. Tech team to Paytm. They have created a fantastic product with real user engagement. As we constantly look to create customized and intuitive user experiences, the Balance. Tech team will be an invaluable part of this journey.”
Ankit Kumar, CEO & Co-Founder, Balance. Tech said, “Our team has been building automated products that make the saving experience relatable and delightful by helping users reach their goals in clever little ways. Our conversational personal savings assistant nudges users to build a saving habit, and give purpose to their money as they go about their busy lives. We look forward to bring in computational intelligence, unique design and proprietary algorithms with Balance to help Paytm users accomplish more with their money.”