InfoDevelopers, Pumori merge

Kathmandu, Jan. 26

InfoDevelopers Pvt. Ltd., a leading fintech and software company, and Pumori Division of Mercantile Office Systems Pvt. Ltd., a pioneering and leading IT company, have merged into one to create a larger fintech and software solutions company.

The two companies on Wednesday announced the strategic partnership with the merger.

The two companies will function as one to better serve Banking and Financial Institutions (BFIs) in national and international sectors, said Sanjib Rajbhandari, Chairman of the new company named 'InfoDevelopers MOS Pvt. Ltd.

He said that preparations are underway to create new products targeting the international markets. However, expansion of the products will be made by keeping the financial sector in the centre. The companies are active in Myanmar, Bangladesh and Bhutan.

Although the executives of both the companies did not disclose the actual value of the merger, it is one of the largest mergers in the non-banking and finance sectors as Rajbhandari claimed that on the basis of the intellectual properties it has, it could be the biggest merger in the country. Pumori software is said to have about 45 per cent market share in Nepal.

InfoDevelopers, established in 2002, is a leading fintech company that develops various Core Banking Solutions for cooperatives and microfinance companies. In addition, its more than 300 plus developers are engaged in various projects, product and service development activities for the Government of Nepal, bank and financial institutions, INGOs, cooperatives, and microfinance companies, informed Chief Executive Officer of the company, Umesh Raghubanshi.

Mercantile Office Systems is one of the oldest and pioneering IT companies in Nepal and its flagship Core Banking Solution - Pumori is the top banking software in Nepal serving BFIs as well as international banking institutions for over 32 years.

"With this strategic partnership, InfoDevelopers MOS will be able to provide a digital ecosystem to financial institutions from cooperatives and microfinance institutions to commercial banks including development banks and finance companies," said Raghubanshi.

InfoDevelopers MOS pledges that it is dedicated to ensuring a smooth transition for all clients and partners with a new and robust system to suit the changing digital landscape. In addition, InfoDevelopers MOS will introduce international standard new products and features very soon that leverage the combined strengths of both partners, he said. 

Published in The Rising Nepal daily on 27 January 2023.