Innoviti Raises INR 80 Crore In Series D
With the current funding, the business aims to become a sustainable platform
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Innoviti raises INR 80 crore in a first close of its ongoing Series D round. The funding was led by Trifecta Debt Fund, Patni Advisors and Bessemer Venture Partners.
Innoviti enables businesses to collaborate on payment transactions and turn them into purchasetools that are reliable, convenient and urge a consumer to buy more. Merchants, banks and brands come together on Innoviti’s platform to createsuch experiences. Processing over INR 75,000 crore of annualized purchase volume, Innoviti is extracting more valuefrom payment transactions. Innoviti commands a dominant market share of76 per cent in the enterprise category, providing specific purchase tools to grocery, fashion, healthcare and electronics merchants, saida statement.
“Innoviti desires to become the purchase partner of every Indian. Helping them enhance theirstandard of living by improving the purchasing power of every penny they earn. We are doing thisby using technology to get businesses to talk to consumers, sharemarketing budgets and channel them towards improving the purchasing power of their consumer.A key differentiator for us has been developing sophisticated technology and delivering it throughsimple, exceptionally crafted purchase experiences. This customer centricity and a relentless focus on excellence has helped us become the most capitalefficient company in this space. With the current Series D, we hope to become a sustainable businessand list on the exchanges over a couple of years,” said Rajeev Agrawal, CEO of Innoviti.
Innoviti plans to raise an additionalINR 400 crore in primary funding of Series D. The funds will be used to fuel its growth, added the statement.
Innoviti raises INR 80 crore in a first close of its ongoing Series D round. The funding was led by Trifecta Debt Fund, Patni Advisors and Bessemer Venture Partners.
Innoviti enables businesses to collaborate on payment transactions and turn them into purchasetools that are reliable, convenient and urge a consumer to buy more. Merchants, banks and brands come together on Innoviti’s platform to createsuch experiences. Processing over INR 75,000 crore of annualized purchase volume, Innoviti is extracting more valuefrom payment transactions. Innoviti commands a dominant market share of76 per cent in the enterprise category, providing specific purchase tools to grocery, fashion, healthcare and electronics merchants, saida statement.
“Innoviti desires to become the purchase partner of every Indian. Helping them enhance theirstandard of living by improving the purchasing power of every penny they earn. We are doing thisby using technology to get businesses to talk to consumers, sharemarketing budgets and channel them towards improving the purchasing power of their consumer.A key differentiator for us has been developing sophisticated technology and delivering it throughsimple, exceptionally crafted purchase experiences. This customer centricity and a relentless focus on excellence has helped us become the most capitalefficient company in this space. With the current Series D, we hope to become a sustainable businessand list on the exchanges over a couple of years,” said Rajeev Agrawal, CEO of Innoviti.
Innoviti plans to raise an additionalINR 400 crore in primary funding of Series D. The funds will be used to fuel its growth, added the statement.
