Stripe a Payments Solutions is buying Recko, which has built a platform that lets businesses track and automate payments reconciliation.
The platform covers both outgoing and incoming payments and the full ecosystem of inbound and outbound payment sources and receivers. Unlike Stripe, Recko is heavily more about APIs integration and working with different data sources.
Bangalore, India based company will be the first acquisition in the country when the deal is officially closed. Unfortunately, the terms of the deal have not been closed. Before the deal with Stripe, Recko managed to raise $7 million to accelerate its growth.
“Joining Stripe is a perfect next chapter for Recko, and we can’t wait to help grow the GDP of the internet by removing the burden of reconciliation complexity,” commented Saurya Prakash Sinha, CEO and co-founder of Recko, in a statement.
“Internet businesses need tools that can scale with their growth and automate the tasks required to produce an accurate picture of their financial health,” adds Sinha.
Leave a Reply