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MatchMove Buys Singapore Startup Shopmatic for $200 Million

400 Million Social Media Users Set to Lose Anonymity in India
Photographer: Dhiraj Singh/Bloomberg

Singapore-headquartered fintech MatchMove Pay Pte. has acquired fellow e-commerce startup Shopmatic Pte. for $200 million, a deal that signals consolidation in the startup ecosystem in India and Southeast Asia.

The combined entity, which will operate as the MatchMove group, will target revenues of $400 million and four million customers in 15 countries, including India, by 2026, the startups said in a joint statement.