Innoviti Eyes Expansion With $11.5 Mn Debt Funding
15 March 2019 4:27 AM IST
Innoviti will use the fresh funds to expand operations, strengthen the technology platform to ensure smooth card payments and hire additional staff.
- Bengaluru-based digital payments solutions company Innoviti has raised $11.5 Mn (INR 80 Cr) in a fresh debt funding round from Trifecta Capital and a bunch of non-banking finance companies (NBFCs).
- With INR 30 Cr from Trifecta and INR 50 Cr from NBFCs, Innoviti is looking to raise funds without having to dilute the shares of the existing shareholders.
- In an earlier conversation with Inc42, Innoviti CEO Rajeev Agrawal said that the company has disbursed about 160K (number of) loans to over 30,000 small merchants pan India.
- Also, the yearly disbursement volume of SME lending for the company ranges from $62.3 Mn (INR 400 Cr) – $78 Mn (INR 500 Cr).
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