Komparify, a trusted online aggregation platform that helps discover the best mobile, dth and broadband plans, has strategically acquired Ireff, an app based mobile plans platform, in an all-cash asset only deal at an undisclosed amount.
Komparify is a fast growing Chennai-based startup that helps consumers find and choose the best plan to recharge, pay bills and buy new connections using a wide variety of wallets and payment options. It aggregates the best mobile, DTH and broadband plans from 100+ operators across India.
Ireff is a Bangalore based startup that delivers fresh prepaid plan information with a clean UI via its mobile app. Ireff is the top most rated app on Google Play store in the prepaid plan space.
In order to capture growing opportunities in the market, Komparify aims to expand its presence in prepaid plans application space with Ireff.
Commenting on the acquisition, Jigar Doshi of Komparify said, “We have been working with Ireff as partners for a couple of years and have always respected the clean app. We are proud to acquire this asset and bring choice to Ireff customers to discover plans from more services and allow transactions using India’s most cutting edge payment products.”
Komparify has gained a loyal user base as a web-based comparison engine that analyzes a user’s mobile and data usage to match users to the best mobile/data plan based on the usage pattern. It has since expanded to help find the best DTH plans based on the channels watched and the finding the best broadband plans. Komparify is going to augment its app with Ireff’s balance tracking and recharge tracking technology.
“iReff was started with the vision to provide timely information and tools to help prepaid mobile users get the best of their prepaid subscription. iReff was the first app for the discovery of recharge plans and we quickly became the leader in this space. With Komparify, our users will now be able to do the same for postpaid mobile, DTH and streaming movies”, said Nizam Mohideen of Ireff.
Komparify having acquired the assets, plans to run both apps – komparify and ireff – independently with Komparify existing team. Komparify’s smart recommendation engine and Ireff’s balance and recharge tracking technology will, together, be a powerful force in ensuring a smart user experience. The strategic acquisition integrates recommendation technology with transaction technology to enhance the current as well as new user experience. Currently, Komparify has over 5 million users and plans to double the user base to 10 million users.
Post acquisition the team that built iReff is entering into the B2B space building a hyper-local commerce platform called Zopnote which is currently launched in select markets. Zopnote has an innovative cloud solution that addresses pain points of vendors and also increases convenience for end customers doing commerce.
Komparify is a 7 year old startup, bootstrapped and growing profitably. They are on track to hit $15 million in transaction volume this financial year. They have 8 million downloads and 4 million monthly users combined across all assets.
Moreover, their expansion spree is going to continue with Komparify’s plans to launch a streaming entertainment section by aggregating movies, TV shows, sports and live TV from various OTT streaming services. This will be a one stop shop to discover the best streaming content. It will help consumers answer questions around what to watch, where to watch and should I watch. The functionality of the entertainment section will also be rolled out on Ireff’s app.
[Top image – Komparify Founders – Jigar and Ankit | Image Via – YourStory.com]
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