Innoviti Technologies Pvt Ltd., a retail SaaS platform that focuses on payments for enterprise brands and their SME channel partners, is seeking to raise around $13.7 million (Rs 115 crore) in its Series E fundraising round.
In April of this year, the firm announced that it had raised Rs 40 crore from Bessemer Venture Partners and the Patni Family Office, kicking off its Series E round. Founders and early angel investors joined that round as well.
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Alumni Ventures is leading Innoviti in raising approximately $9 million for its most recent tranche. By the end of June, the Series E round is anticipated to conclude.
The company plans to utilise the investment proceeds to propel its mid-market expansion, which commenced in 2021, as well as to bolster its internet operation, which has experienced a 4X growth in the past year. The business will then start to prepare for its IPO.
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Enterprise brands including Reliance, Tanishq, and Shoppers Stop are served by Innoviti through payment channels in the form of software solutions. The company last raised capital in 2022, with the participation of Bessemer, FMO, Patni, and more investors.
About Innoviti
Indian giant Innoviti Technologies Pvt Ltd. provides integrated payments solutions to big enterprise brands.
