According to The Economic Times, Innoviti, a fintech firm, is seeking funds at a valuation of $350 million. They plan to raise $25 million in a new funding round, and early investors might also sell some stakes.
Innoviti specializes in technology-led payment solutions and point-of-sale terminals. They cater to enterprises, offline merchants, and small shops, providing them with invoicing and customer relationship management (CRM) software solutions. Some of their notable customers include Future Retail, Shoppers Stop, and Aditya Birla Fashion and Retail.
To date, Innoviti has secured a total funding of $75 million. Their most recent funding round was led by Panthera Growth Partners, along with participation from existing investors like FMO and Bessemer Venture Partners.
The company aims to utilize the new funds to expand their product offerings, increase their customer base, and explore strategic acquisitions. Additionally, there are reports suggesting that Innoviti is considering a public listing in the near future.
Given the rapid growth of the fintech sector in India, Innoviti is in a favorable position to capitalize on this trend. With a solid track record and proven business model, the company is poised to emerge as a leading player in the Indian fintech market.
