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Razorpay invests $30 million in POP. Here's what to know about the startup.
- Fintech giant Razorpay has invested $30 million in POP, a Indian startup focused on a rewards-first consumer platform.
- POP combines UPI payments, a D2C brand-first marketplace, and a rewards-powered RuPay credit card, with a proprietary rewards currency called POPcoins.
- The funding will be used by POP to enhance product innovation, provide more value to consumers through rewards, and deepen merchant partnerships.
- POPcoins aim to build habits, increase retention, and reduce customer acquisition costs for merchants, fostering loyalty-led customer acquisition.
- POP has achieved significant growth metrics since launching its UPI platform in June 2024, including over 600,000 daily UPI transactions and one million unique monthly active transactors.
- Razorpay's investment in POP expands its services beyond payments into loyalty, engagement, and commerce enablement, focusing on serving D2C merchants.
- POP's model combines instant rewards, seamless payments, and brand discovery to help businesses foster lasting customer relationships.
- The investment aligns with Razorpay's acquisition of PoshVine, forming Razorpay Engage, India’s first full-stack intelligent marketing growth suite.
- With over 90% of digital consumers considering rewards and loyalty in purchase decisions, the pressure on brands to create rewarding customer experiences in the D2C market is increasing.
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