Chennai-based fintech startup IppoPay has bought the risk management startup Tutelar for an undisclosed sum.
Story so far: Tutelar was started by former Aggrepay CEO Pradeep Kumar. He has more than 20 years of experience in the payments and risk management sector. His previous work includes working in risk verticals at HSBC, HDFC Bank, and Axis Bank. He’ll be IppoPay’s new Chief Risk Officer.
- Tutelar enables AI-based risk-free onboarding, resolution of disputes, and Know Your Customer (KYC) fraud detection. It benefits merchants, banks, and payment aggregators.
- Risk management, KYC, and transaction frauds are problems the industry is trying to address. With the acquisition of Tutelar, IppoPay will become a part of the solution.
What’s next? IppoPay plans to enter the payments infrastructure sector. It recently appointed Atish Shelar as Chief Operating Officer, formerly of Billdesk and HDFC Bank.