Zopper acquires EasyPoS in a mixed cash and equity deal.
Hyperlocal discovery and buying platform for electronics Zopper has acquired point of sale (PoS) software company EasyPoS in a mixed cash and equity deal, valuing EasyPoS at Rs 33 crore ($5 million). The move is directed at raising additional revenues through the PoS solution and increasing stickiness in the network of small and medium businesses.
Bundled PoS solutions provide an easy entry to reach out to small and medium enterprises (SMEs). Marketplaces such as ShopClues and logistics units like Delhivery have been working on developing in-house PoS solutions for expanding the network of businesses on their platforms.
The increase in adoption of mobile PoS solutions has players like Social+Capital-funded Ezetap and Falcon Edge-backed MSwipe expanding their merchant base aggressively.
“For us the acquisition will provide a better solution to offer to the SMEs who work with us. It is difficult to sell a PoS solution but the hyperlocal discovery piece we add will be an additional value proposition,” said Neeraj Jain, cofounder of Zopper, which is present in 22 cities and plans on adding 25 more in the next quarter.
The EasyPoS acquisition will add 350 sellers to the Zopper platform, which works on a commission-based model with hyperlocal businesses.
“We are also looking to sign up major electronics retail chains on our platform,” said Jain, adding that the company is currently making gross profits in the business.
Tiger-Global backed Zopper is currently on expansion mode and EasyPoS will be one of the multiple acquisitions for the company in retail, the other key areas being data, technology and marketing.