Innoviti, a Bengaluru, India-based provider of a payments-centric retail SaaS platform, raised Rs. 40 Crores in first close of Series E funding.
The round was led by Bessemer Venture Partners, Patni Family Office and others.
The company intends to use the funds to drive its mid-market expansion.
Innoviti provides payments-centric retail SaaS tools to enterprise brands and their channel partners, The company’s tools run across online and offline payment channels, processing over Rs. 72,000 Cr. annually from across 2000 cities and over 20,000 merchants. Innoviti processes purchases happening in enterprise retailers in the food and grocery, lifestyle, and healthcare categories.
The company is planning to raise additional capital in the current ongoing round by the end of April for its future growth, expected to happen in the next 12 months. Innoviti will initiate its IPO planning subsequently.
FinSMEs
06/04/2024