India, June 17 -- Ecommerce enablement startup POP has secured $30 Mn (INR 258.2 Cr) from Razorpay.

With this, Razorpay has picked up a majority stake in the Bengaluru-based startup. The investment also marks Razorpay's expansion beyond core payment infrastructure into loyalty, engagement and commerce-enablement categories.

POP, operated by Poptech Growth Pvt Ltd, did not disclose the financial terms of the deal.

"Razorpay will hold a majority stake (over 50%) in POP following the investment. However, POP will continue to operate as an independent entity," a company spokesperson told Inc42.

POP plans to use the fresh capital to ramp up its product innovation, boost consumer value proposition through POPcoins-driven rewards and foster ...