Innoviti Technologies Secures INR 40 Cr in Series E Funding
April 5, 2024, 9:34 pm
Location: India, Karnataka, Bengaluru
Employees: 501-1000
Founded date: 2002
Total raised: $218.09M
Location: United States, California, San Francisco
Employees: 51-200
Founded date: 1911
Innoviti Technologies, a Bengaluru-based startup, has successfully secured INR 40 crore in Series E funding led by Bessemer Venture Partners and Patni Family Office. The company plans to use the fresh funds to drive its mid-market expansion and further fuel its online business, which has experienced a 4X growth in the past 12 months.
Innoviti Technologies is India's largest payments-centric retail SaaS platform, catering to enterprise brands and their SME channel partners. The recent funding round marks a significant milestone for the company as it continues to strengthen its position in the market.
With a focus on delivering value-added SaaS through payment channels, Innoviti offers innovative solutions that traditional payment systems lack. By providing retail SaaS tools with a payment-centric approach, the company enables enterprise brands to grow faster and more efficiently.
The company's impressive track record includes processing over Rs. 72,000 crore in payments annually through its online and offline channels, serving more than 20,000 merchants across 2000 cities. Notable enterprise brands such as Reliance, Tanishq, and Shoppers Stop rely on Innoviti's solutions to enhance their growth and gain a competitive edge in the market.
The successful funding round reflects investors' confidence in Innoviti's strategic positioning and growth potential in the Indian enterprise retail space. As the company gears up for its next phase of expansion in the mid-market and online segments, it remains committed to delivering innovative payment solutions that drive business growth.
Innoviti's journey towards future growth includes plans for an initial public offering (IPO) following the completion of its current funding round. With a strong focus on innovation and customer-centric solutions, the company is poised to continue its upward trajectory in the retail SaaS industry.
As Innoviti embarks on its next chapter of growth and expansion, the support from investors like Bessemer Venture Partners and Patni Family Office will play a crucial role in shaping the company's success. With a clear vision and a commitment to excellence, Innoviti Technologies is set to redefine the future of payments in the retail industry.
Innoviti Technologies is India's largest payments-centric retail SaaS platform, catering to enterprise brands and their SME channel partners. The recent funding round marks a significant milestone for the company as it continues to strengthen its position in the market.
With a focus on delivering value-added SaaS through payment channels, Innoviti offers innovative solutions that traditional payment systems lack. By providing retail SaaS tools with a payment-centric approach, the company enables enterprise brands to grow faster and more efficiently.
The company's impressive track record includes processing over Rs. 72,000 crore in payments annually through its online and offline channels, serving more than 20,000 merchants across 2000 cities. Notable enterprise brands such as Reliance, Tanishq, and Shoppers Stop rely on Innoviti's solutions to enhance their growth and gain a competitive edge in the market.
The successful funding round reflects investors' confidence in Innoviti's strategic positioning and growth potential in the Indian enterprise retail space. As the company gears up for its next phase of expansion in the mid-market and online segments, it remains committed to delivering innovative payment solutions that drive business growth.
Innoviti's journey towards future growth includes plans for an initial public offering (IPO) following the completion of its current funding round. With a strong focus on innovation and customer-centric solutions, the company is poised to continue its upward trajectory in the retail SaaS industry.
As Innoviti embarks on its next chapter of growth and expansion, the support from investors like Bessemer Venture Partners and Patni Family Office will play a crucial role in shaping the company's success. With a clear vision and a commitment to excellence, Innoviti Technologies is set to redefine the future of payments in the retail industry.