The fin-tech company bought the majority of stakes in EkGhanti services for an undisclosed sum. The acquisition was announced on March 31 by EkGhanti.
EkGhanti is a Nepali communication and value-added service (VAS) development company, founded in 2017, that specializes in telecom services and instant messaging platforms. It was co-founded by Pradeep Khadka, Shaswat Adhikari, and Vishal Shrestha.
The VAS provider has made significant contributions to the offline banking area with products such as missed call banking, IVR banking, offline payments, and USSD banking.
It currently serves over 100 clients in banking and financial institutions (BFI) and enterprises, including NIC Asia Bank, Kumari Bank, Global IME Bank, Civil Bank, Mega Bank, and Worldlink, among others, with 200,000+ active users across all of its services.
The service company currently has a team of 18 technical employees and 3 co-founders. With the acquisition, Co-founder Shaswat Adhikari told TechLekh that the company plans to expand its offline banking, finance, and remittance services, as well as its team to 50.
In the future, EkGhanti also plans to take the banking technology international.