Mumbai: One97 Communications Ltd, which owns the digital payments app Paytm, has acquired mobile technology start-up Cube26 for an undisclosed sum.

Cube26, which is backed by Tiger Global Management and Flipkart, is focused on revolutionising user experience across multiple devices and platforms. In 2015, it got a Rs 50-crore seed funding from Tiger Global and Flipkart. It was founded in 2012 by Saurav Kumar, Aakash Jain and Abhilekh Agarwal.

Explaining the logic behind the acquisition, Paytm said it has been building consumer engagement products in the social and content domain and Cube26 will help leverage the work done by it in these areas.

"We are excited to welcome the Cube26 team onboard. With this acquisition, the Cube26 team will work with the Paytm team to add more social engagement features to our products and services," Madhur Deora, chief financial officer of Paytm, said.

According to Saurav Kumar, co-founder of Cube26, the diversified experience gained by the company in creating smarter tech products across software and hardware segments will help add value to Paytm.

Recently, Paytm had said that it had crossed an annual gross transaction run-rate of $29 billion, driven by a growth across mobile payments and bank transfers through its platform.