In 2021, as crypto buzz was at its peak, Kirubha Perumalsamy co-founded a startup called Rollfi with the principal aim of assisting companies in managing their digital payments.
When the crypto market took a downturn, Rollfi astutely adapted by reinventing themselves into an implanted payroll firm. The company collaborated with various financial services firms to provide their clients with payroll and benefits services.
Rollfi’s agility paid off as they caught the attention of Priority Tech Ventures, a branch of the widely recognized consumer banking firm, Priority Technology Holdings. The strategic pivot led to Rollfi’s acquisition for an undisclosed sum, after having previously successfully raising $3.25 million.
In conversations with TechCrunch, Perumalsamy revealed that the decision to sell emerged while the company was in the midst of fundraising. He stated, “We realized we would be much more successful at winning this market if we could combine the startup’s focus, speed, and obsession with the institutional strength of Priority.”
Under the agreement, the original team remains wholly intact and continues to operate as an independent entity within Priority.
Original source: Read the full article on TechCrunch
