Marketing company Vmobo acquires Fintech startup Binge
Bangalore based fintech startup Binge was founded by Ajay Joseph, Santosh Martin, Christopher Lopez, and Shankar Sukurutraj. It is an app-based platform that enables users to pay their restaurant bills via the same. The startup provides an F&B payments solution that brings the user’s offline bill online, making it possible to pay them via mobile wallets, thus facilitating cashless payments.
As per reports, Binge has been acquired by California-based marketing firm vMobo at the former’s valuation of $3.5 million. As per the deal vMobo will own Binge’s technology, partnerships, and team.
Speaking on the occasion, Santosh Martin, co-founder, Binge mentioned,
“ Binge, earlier owned by Noroc Solutions, will not exist as a brand, and its 25,000 users will have to download the VClusive app, which also has the integrated wallet with the same wallet partners from Binge such as Paytm and MobiKwik.”
Adding to this, Vinu Sundaresan, CEO, vMobo mentioned,
“There was no luxury marketplace that was targetting high earning individuals who purchase affordable and accessible luxury items. Our target customers include those who have a disposable income of INR 10 Lakh or more in a year. This integration helps us solve the problem of the customer-facing, point-of-sale experience by providing a last-mile payment option.”
vMobo is an interactive direct marketing company. vMobo’s flagship product Vcloud is a multi-brand rewards and privilege programme that allows merchants to acquire, retain, and engage customers by leveraging standard programme features such as cross-merchant promotions, as well as their own custom campaigns.