Paytm Acquires Bengaluru Based Smart-Savings Management Startup Balance.Tech
Summary
Ankit Kumar, CEO and 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.We look forward to bring in computational intelligence, unique design and proprietary algorithms with Balance to help Paytm users accomplish more with their money.”Founded in 2016 by two IIT-Kanpur alumni, Ankit Kumar and Abhishek Malik, Balance Tech was an everyday personal finance app that built saving habits for its users.The company has been spreading its financial services business with the help of its unit Paytm Payments Bank Ltd, which also contains its digital wallet.Headquartered in New Delhi, One97 is more than 4,500 people strong with regional offices in Mumbai, Bengaluru, Pune, Chennai, and Kolkata with global presence in Africa, Europe, Middle East and Southeast Asia.