Posted by Bangalore: Vyapar, a simplified and free billing, inventory and GST software startup has raised Rs 36 crore in an internal funding round.
IndiaMart, India’s largest online business to business (B2B) marketplace led the Series A funding round along with the participation of existing investors India Quotient and Axilor.
Launched in 2016, Vyapar today boats a customer base of 1 million along with 4.6 app rating on Google play store.
Small and Medium Businesses (SMBs) can use their app or desktop version for billing Goods and Services Tax (GST) invoices, managing stock inventory and accounting solution.
With the fresh capital infusion, the Bengaluru-based software startup has raised around Rs 42 crore till date. The startup will allocate the fresh funds, primarily for growing customer base and building the next set of major functionalities to provide complete business solution for MSMEs.
The investment will also help the brand, to expand its network to new cities, with core focus on technology, catering to its target segment needs.
“Vyapar is built with a single purpose – to enable the SME and MSME community to go digital. Six months into the financial year, we are close to the 1 million mark and confident that we will achieve our goals. With the new capital we aim to scale up these figures, and map the new active markets aggressively,” said Sumit Agarwal, Founder – Vyapar.
“Over the last two decades IndiaMART has effectively overcome the problem of access to market and technology by building a digital marketplace for MSMEs,” said Dinesh Agarwal, MD – IndiaMART.
“This investment in Vyapar, that is solving the complex billing and accounting needs of MSMEs in a simplified manner, is aligned with our long term vision to make doing business easy for millions of businesses by providing them tech-enabled easy and cost effective solutions,” added Agarwal.
Vyapar, the free filling and accounting software aims to establish establishing an ecosystem, to uplift the business community, helping them stay at the top of the business, with simplicity.