Infosys Founder Narayana Murthy Catamaran Invests $5M In Payment Solutions Firm Innoviti

 Infosys’s founder and former chairman Narayana Murthy’s Catamaran Ventures has invested $5 million in payment solutions provider Innoviti Payment Solutions (IPS). The round also saw participation from Canada-based New India Investment Corporation. The company aims to utilize the raised funds to expand the company’s SME loans category as well as for marketing, product development and scaling its overall payments infrastructure.

 
 
 
Prior to this, Innoviti has received Rs 10 crore in January from investors including Tata Capital and a group of London and India based individual investors. Bengaluru-based firm was founded by Rajeev Agrawal, it counts Reliance, Titan, Indigo, Yatra, Walmart, Sikkim Manipal University, HDFC, ICICI, Axis and SBI among its clients.
 
 
 
Innoviti is a lending marketplace that distributes over Rs 400 crore of loans to more than 10,000 SMEs across 20 cities annually and claims to process Rs 8,000 crore of payment transactions a year. It competes with startups like FortunePay and Ezetap Mobile Solutions Pvt. Ltd. among others.
 
 
Share this:
Tags:

About Jessica Priston

Ut tellus dolor, dapibus eget, elementum vel, cursus eleifend, elit. Aenean auctor wisi et urna. Aliquam erat volutpat. Duis ac turpis. Integer rutrum ante eu lacus. Vestibulum libero nisl, porta vel, scelerisque eget, malesuada at, neque. Vivamus eget nibh. Etiam cursus leo vel metus. Nulla facilisi. Aenean nec eros.

  • Website
  • Google+
  • Rss
  • Pinterest
  • Instagram
  • LinkedIn
  • Vimeo
  • Youtube
  • Flickr
  • Email

Related News

  • Cashback site Cashkaro now offers restaurant discounts

    India’s e-commerce market looks large and lucrative enough from the outside, but insiders know it is very challenging. In fact, the number of e-commerce sites and businesses is growing so fast here today that the competition is cut-throat. This

  • What is Viscose Material? Advantage and disadvantage of viscose.

    Viscose is a unique form of wood cellulose acetate used in the nnmanufacture of a number of different products. This includes items for nnthe medical industry, though it is perhaps most common as a major nningredient in the production of the fabric r

  • Honda launches new CBR 250R bike
    Honda launches new CBR 250R bike
    July 01, 2014 5:50 am

    New Delhi: Honda Motorcycle & Scooter India (HMSI) launched a new edition of its global sports performance bike CBR 250R priced between Rs 1.56 lakh and Rs 1.86 lakh (ex-showroom Delhi). The 2013 edition CBR 250R is available for sale across a

  • Zara has opened store at Ambience mall, Gurgaon

    Zara, has opened its new store at Ambience mall, Gurgaon. Spread over 28,000 sq.ft. across two floors the store has taken the space earlier occupied by Debenhams. With this Zara now has twelve stores in India. It is present in 86 countries with