New Delhi, June 10 -- FinTech startup BharatPe has announced the acquisition of PAYBACK India. The acquisition comes from American Express and ICICI Investments Strategic Fund; for an undisclosed amount. This is BharatPe's first-ever acquisition which makes PAYBACK India a wholly-owned subsidiary of the soonicorn. The acquisition is in line with BharatPe's strategy to build a robust and engaged network of over 20 million small merchants by 2023.

"With this acquisition, we will be able to add a whole new dimension to our merchant value proposition. In addition to the range of payment and credit products that BharatPe offers to help merchants scale their business, we will also be able to drive more consumers to their stores. We are committ...