IppoPay strategically invests $500,000 in I-CampusBuddy
New Delhi, 9 March 2023: IppoPay Technologies Private Limited, a verticalized payment infrastructure company headquartered in Chennai, announced that it has invested $500,000 in I-CampusBuddy, a company that provides leading ERP software solutions to the education industry.
I-CampusBuddy, engages and collaborates with schools, colleges, universities and training institutes to automate processes and achieve digital transformation. On a single platform, I-CampusBuddy along with other features offers end-to-end solutions through a comprehensive set of modules, such as, CRM, finance, academics, communication, collaboration, productivity, e-learning, assessment and asset management. Aligned with IppoPay’s vertical strategy of targeting industries with significant Total Addressable Market (TAM), the company is expanding its offering of custom-made payment solutions for entire industry value chains. One area where this strategy is being implemented is the education vertical, which currently lacks tailored payment solutions. Through investing in I-CampusBuddy, IppoPay aims to establish a robust distribution network for its financial products in schools and colleges, providing diverse stakeholders with products suited to their specific needs.
Arun Solanki, Founder of I-CampusBuddy said, “Our goal is to make campuses paperless, faceless, cashless by providing academicians and operations team with right information at the right time to reduce repetition and errors, increase productive time for core tasks, and spend less time on operational and administrative concerns. Collaborating with IppoPay will definitely be a step forward in achieving our goal since collection and payments are the most time-consuming areas of operation for any institute. IppoPay’s participation as a strategic investor is greatly appreciated.”
I-CampusBuddy has one of the best product suites focused on large educational institutions in the country today driving fees of over Rs.1000 Cr. They will use the funds to expand their product-suite to go deeper beyond enterprises and target smaller schools and education institutions.
Ramprashanth Ganesan, CSO of IppoPay, said, “We see immense potential in Arun’s business. Moreover, it aligns with our goal to provide a verticalized infrastructure product for the edtech sector. The education payments space is an area we are actively evaluating and seeking to enhance the capabilities of educational institutions by offering ERP and payments collection services to schools and colleges. We predict that demographics and rising affordability will drive consumption in this sector which has been traditionally very close to the heart of Indian families.”