Uber rival Grab acquires Indian payments startup iKaaz
Uber rival Grab has acquired Bengaluru-based payments startup iKaaz to help expand its digital payments platform GrabPay. As a part of the deal, the iKaaz team will join the Singapore-headquartered Grab's research and development centre in Bengaluru. Founded in 2012 by Soma Sundaram, iKaaz offers a mobile payments platform for enterprises, business correspondents, and merchants.