TLDR:
- Innoviti, a Bengaluru-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.
Innoviti, a Bengaluru-based company, has secured Rs. 40 Crores in the first close of their Series E funding round. The funding was led by Bessemer Venture Partners, Patni Family Office, and other investors. This capital will be used to drive the company’s mid-market expansion. Innoviti offers payments-centric retail SaaS tools to enterprise brands and their channel partners, processing over Rs. 72,000 Cr. annually from across 2000 cities and over 20,000 merchants. The company focuses on processing purchases for enterprise retailers in the food and grocery, lifestyle, and healthcare categories. Innoviti is also planning to raise additional capital by the end of April and will subsequently initiate its IPO planning for future growth in the next 12 months.
