Payment and banking platform Razorpay on 12 September announced that it had acquired BillMe, a Mumbai-based startup specialising in digital invoicing and customer engagement.

Any of the involved parties has not disclosed the acquisition price.

Shashank Kumar, managing director and co-founder of Razorpay, said, “With the global digital receipts market size poised to reach $2.3 billion by 2027, we aim to now anchor this massive opportunity for businesses and help them stand out by engaging and retaining their customers better while strengthening their marketing capabilities.”

BillMe was established in 2018 and has introduced innovation to reduce the reliance on paper bills and enhance the value for merchants through digital invoicing solutions.

The startup has a clientele of over 4,000 businesses, more than 15,000 retail point-of-sale systems, and some big brands such as McDonald’s, Decathlon, Burger King, Relaxo Footwear, Baggit, Cinepolis, and many more.

This is the company’s 8th acquisition since its last acquisition of Ezetap in August 2022.

Kuber Pritmani, Co-Founder of BillMe, said, “With Razorpay, we now have a large scope to deepen our tech expertise and create a difference for our businesses. Reinforcing integrations across all Point of Sale touchpoints enhances the value we aim to provide to our clients.”

The company’s quarterly report for the April-June quarter reported a 20% YoY increase in its revenue at Rs 7.3 crore from the Rs 6.1 crore reported in the year-ago quarter.