Online Rent Management Platform Paymatrix Raises $100K from SucSeed Venture
26 Nov 2018 4:19 AM GMT
Hyderabad-based online rent management platform, Paymatrix has raised $1,00,000 (~ ?70.5 lakhs) as part of its Pre-Series A round targetted at $1 million, from SucSeed Venture Partners, a Hyderabad-based investment firm. Its existing investors include Xseed Venture Partners, Indian Institute of Information Technology
- The startup had earlier raised an undisclosed amount from IIIT-Hyderabad Seed fund, in December 2017, and has been a part of India’s largest startup accelerator T-Hub and also made it to PayPal India’s accelerator program in 2017.
- Apart from tenants and landlords, Paymatrix clients include property managers, co-living spaces, PGs, hostels, etc, which get the company’s offering on a subscription basis and in return the startup gets the tenants as a package.
- With presence in over 18 Tier-1 and Tier-2 cities in India, Paymatrix claims to have over 13,000 registered tenants and landlords, and over ₹ 22 crore of rental transaction turnover.
- About SucSEED Venture Partners, the investment firm has made three investments so far including one in September this year where it has contributed in the funding round of SRJNA , a Jaipur based startup helping schools to integrate hands on, affordable and turnkey STEM solutions in their regular curriculum by setting up and facilitating Innovation and Tinkering Labs.
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