Innoviti Technologies Secures Second Close of Series E Round

Innoviti Technologies Pvt. Ltd., India's premier payments-centric retail SaaS platform, has announced the second close of its Series E round with Alumni Ventures, USA. The company has been consistently profitable and is expanding rapidly, with plans for an IPO within the next 12 months.

Innoviti Technologies Pvt. Ltd., a leading player in India's payments-centric retail SaaS market, has announced the second close of its Series E funding round. Alumni Ventures, USA, has joined this round, which began in April 2024 with an initial Rs. 40 Cr. raise from Bessemer and Patni. The latest tranche brings an additional Rs. 75 Cr. in investment, with more investors expected to join before the round closes in June.

Innoviti's robust enterprise business reports consistent profitability, generating operating profits for the past 10 quarters. The company's mid-market and online segments are also experiencing rapid month-on-month growth. Innoviti anticipates becoming fully cash-generative within the next year and plans to prepare for an IPO shortly thereafter.

Alumni Ventures’ Yevgeny Gelfand expressed confidence in Innoviti's technological prowess, emphasizing the company’s ability to continually add value for its clients. With RBI's authorization as an online payment aggregator and impressive operational metrics, Innoviti is poised for substantial future growth.