810
16 days ago
Exclusive: Innoviti Closes Series M Funding Round At ₹104 Cr
Summary
D2CX by Inc42 is a 12-week hands-on program to help you level up your D2C game. Learn from India's top 1% D2C founders and experts through actionable insights, proven strategies and tactics on how to 10X your D2C brand.
ManagementX by Inc42 – India’s first Startup Management Program is a 6-month hands-on program that will take you on an intense journey that shatters the outdated “employee mindset” and equips you with the “leader mindset”.
D2CX Foundations by Inc42 is a 6 week hands-on program to help you launch your D2C brand successfully and profitably. Learn from India’s top 1% of D2C founders & experts through actionable insights, proven strategies and tactics on how to launch a successful D2C Brand in 6 weeks.
Stay ahead with the latest news, funding, startup financials, & governments policies on the hottest tech industries in the Indian startup ecosystem.
Get featured, partner or work with India's #1 startup media & intelligence platform and explore what else Inc42 has to offer.
Stay ahead with the latest news, funding, startup financials, & governments policies on the hottest tech industries in the Indian startup ecosystem.
Get featured, partner or work with India's #1 startup media & intelligence platform and explore what else Inc42 has to offer.
D2CX by Inc42 is a 12-week hands-on program to help you level up your D2C game. Learn from India's top 1% D2C founders and experts through actionable insights, proven strategies and tactics on how to 10X your D2C brand.
ManagementX by Inc42 – India’s first Startup Management Program is a 6-month hands-on program that will take you on an intense journey that shatters the outdated “employee mindset” and equips you with the “leader mindset”.
D2CX Foundations by Inc42 is a 6 week hands-on program to help you launch your D2C brand successfully and profitably. Learn from India’s top 1% of D2C founders & experts through actionable insights, proven strategies and tactics on how to launch a successful D2C Brand in 6 weeks.
New and existing investors participated in the Series M raise, including Bessemer Venture Partners and Arihant Patni of Patni Family Office
The company plans to utilise the funds toward paying outstanding debts along with scaling product development, sales and distribution
Innoviti claimed that its pre-tax loss will reduce by a further 60% in FY26, while EBITDA loss is expected to decrease by over 50%
Fintech soonicorn Innoviti has closed its Series M funding round at ₹104 Cr ($11.4 Mn). The round saw participation from new and existing investors, including Bessemer Venture Partners, Ola Electric backer Ashutosh Joshi, Arihant Patni of Patni Family Office, JuliaHub cofounder Deepak Vinchhi, among others.
Innoviti plans to utilise the capital to partly pay off its debt, strengthen sales and distribution of its payment collection offering ‘Innoviti Link’, and for product development, the company said in response to Inc42’s queries.
“No investors have exited in the round, instead Bessemer Venture Partners and Patni have doubled down on their investment,” it added.
Inc42 exclusively reported about the company raising ₹35 Cr in the first tranche of the round in March last year.
Meanwhile, Innoviti has now extended its IPO timeline and said it plans to file its IPO papers with markets regulator SEBI in the next 18-24 months. Notably, the startup first said in August 2024 that it planned to go public in 12 months. For now, it plans to focus on executing and building the business further.
The fintech company has also been strengthening its operational efficiency as it prepares for a public listing, having trimmed its net loss by 12% in FY25 to ₹62 Cr. It claimed that its pre-tax loss will reduce by a further 60% in FY26, while EBITDA loss is expected to decrease by “over 50% to around 10%”.
“Revenue is broadly in line with targets,” it said. In FY25, Innoviti’s operating revenue stood at ₹142.6 Cr, up 35% YoY.
Founded in 2002 by Rajeev Agrawal and Amrita Malik, the company enables merchants to accept payments and integrate real-time sales data into critical business processes. It claims to process over ₹80,000 Cr of purchase volume annually from across 2,000 Indian cities.
Its two main offerings are sales acceleration software ‘Innoviti Genie’ and link-based payment collection app ‘Innoviti Link’. Some of its prominent clients include Tanishq, Adani Gas, Shoppers Stop, Inox and Reliance Retail.
Innoviti first received RBI’s nod to operate as an online payment aggregator in March 2024, which was expanded to include physical (in-store) payments last month.
Innoviti operates in a crowded fintech space which has over 850 funded startups and 24 unicorns. The startups in the sector cumulatively raised $2.5 Bn in 2025 alone. Innoviti competes with the likes of Razorpay, Paytm and Pine Labs in the merchant-facing fintech space.
The sector is expected to have a total addressable market of over $2.1 Tn by 2030, according to Inc42’s India Fintech Public Markets Report, 2025. This highlights the significant growth opportunities for new and existing players in the segment.
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ManagementX by Inc42 – India’s first Startup Management Program is a 6-month hands-on program that will take you on an intense journey that shatters the outdated “employee mindset” and equips you with the “leader mindset”.
D2CX Foundations by Inc42 is a 6 week hands-on program to help you launch your D2C brand successfully and profitably. Learn from India’s top 1% of D2C founders & experts through actionable insights, proven strategies and tactics on how to launch a successful D2C Brand in 6 weeks.
Stay ahead with the latest news, funding, startup financials, & governments policies on the hottest tech industries in the Indian startup ecosystem.
Get featured, partner or work with India's #1 startup media & intelligence platform and explore what else Inc42 has to offer.
Stay ahead with the latest news, funding, startup financials, & governments policies on the hottest tech industries in the Indian startup ecosystem.
Get featured, partner or work with India's #1 startup media & intelligence platform and explore what else Inc42 has to offer.
D2CX by Inc42 is a 12-week hands-on program to help you level up your D2C game. Learn from India's top 1% D2C founders and experts through actionable insights, proven strategies and tactics on how to 10X your D2C brand.
ManagementX by Inc42 – India’s first Startup Management Program is a 6-month hands-on program that will take you on an intense journey that shatters the outdated “employee mindset” and equips you with the “leader mindset”.
D2CX Foundations by Inc42 is a 6 week hands-on program to help you launch your D2C brand successfully and profitably. Learn from India’s top 1% of D2C founders & experts through actionable insights, proven strategies and tactics on how to launch a successful D2C Brand in 6 weeks.
New and existing investors participated in the Series M raise, including Bessemer Venture Partners and Arihant Patni of Patni Family Office
The company plans to utilise the funds toward paying outstanding debts along with scaling product development, sales and distribution
Innoviti claimed that its pre-tax loss will reduce by a further 60% in FY26, while EBITDA loss is expected to decrease by over 50%
Fintech soonicorn Innoviti has closed its Series M funding round at ₹104 Cr ($11.4 Mn). The round saw participation from new and existing investors, including Bessemer Venture Partners, Ola Electric backer Ashutosh Joshi, Arihant Patni of Patni Family Office, JuliaHub cofounder Deepak Vinchhi, among others.
Innoviti plans to utilise the capital to partly pay off its debt, strengthen sales and distribution of its payment collection offering ‘Innoviti Link’, and for product development, the company said in response to Inc42’s queries.
“No investors have exited in the round, instead Bessemer Venture Partners and Patni have doubled down on their investment,” it added.
Inc42 exclusively reported about the company raising ₹35 Cr in the first tranche of the round in March last year.
Meanwhile, Innoviti has now extended its IPO timeline and said it plans to file its IPO papers with markets regulator SEBI in the next 18-24 months. Notably, the startup first said in August 2024 that it planned to go public in 12 months. For now, it plans to focus on executing and building the business further.
The fintech company has also been strengthening its operational efficiency as it prepares for a public listing, having trimmed its net loss by 12% in FY25 to ₹62 Cr. It claimed that its pre-tax loss will reduce by a further 60% in FY26, while EBITDA loss is expected to decrease by “over 50% to around 10%”.
“Revenue is broadly in line with targets,” it said. In FY25, Innoviti’s operating revenue stood at ₹142.6 Cr, up 35% YoY.
Founded in 2002 by Rajeev Agrawal and Amrita Malik, the company enables merchants to accept payments and integrate real-time sales data into critical business processes. It claims to process over ₹80,000 Cr of purchase volume annually from across 2,000 Indian cities.
Its two main offerings are sales acceleration software ‘Innoviti Genie’ and link-based payment collection app ‘Innoviti Link’. Some of its prominent clients include Tanishq, Adani Gas, Shoppers Stop, Inox and Reliance Retail.
Innoviti first received RBI’s nod to operate as an online payment aggregator in March 2024, which was expanded to include physical (in-store) payments last month.
Innoviti operates in a crowded fintech space which has over 850 funded startups and 24 unicorns. The startups in the sector cumulatively raised $2.5 Bn in 2025 alone. Innoviti competes with the likes of Razorpay, Paytm and Pine Labs in the merchant-facing fintech space.
The sector is expected to have a total addressable market of over $2.1 Tn by 2030, according to Inc42’s India Fintech Public Markets Report, 2025. This highlights the significant growth opportunities for new and existing players in the segment.
Unlock special offers and join 10,000+ founders, investors & operators staying ahead in India’s startup economy.
Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the
hottest startup deals, supercharge your innovation projects, and stay updated with expert
curation.
Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn
to validate ideas, acquire customers, secure funding, and navigate the journey to startup
success.
Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence,
understand market landscapes, and decode emerging trends to make informed decisions.
Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful
investors, and keep track of upcoming funds, accelerators, and more.
Join a community of 10,000+ leaders & operators – unlock unlimited access to Inc42 stories,
videos, deals, member-only perks, and more.
Unlock unlimited access to 500+ monthly new stories and Inc42’s complete archive of
40,000+ stories.
Unlock unlimited access to 500+ monthly new stories and Inc42’s complete archive of
40,000+ stories.
Over $250,000 worth deals on software & tools to help your business scale up.
Network with industry leaders & operators with exclusive invites to Inc42’s
member-only virtual events
Enjoy an ad-free and clutter-free
experience as a member, focus on
what really matters to you
Your contribution will go on to
support and empower our unbiased
& data-driven journalism
Join 1000's of entrepreneurs, business leaders & makers and stay ahead with our sharp,
incisive & data-driven analysis on India’s tech and startup economy!
Unlock personalised stories, ad-lite reading, and exclusive newsletters on Inc42.
Tired Of Playing Catchup On Indian Tech?
Stay Ahead. Every Morning at 8
Get The Week’s Most Consequential Developments.
Inc42 In-Depth is your daily 9 PM newsletter with sharp insights from India’s startup economy.
Inc42 Moneyball is your Thursday newsletter on India’s venture capital trends. 4 PM sharp.
Inc42 Markets is your weekly newsletter on tech IPOs & startup stocks. Every Sunday
get access to a list of 200+ family offices betting big on startups
Get access to a list of Alma Mater Of India's Unicorn & Soonicorn Founders
Explore 75,000+ startups, 3,500+ investors, 25,000+ funding rounds and more. Build shortlists and export them instantly.
Login or create a free account to continue reading in private mode.
AI Description
Innoviti, a fintech soonicorn, has successfully closed its Series M funding round at ₹104 crore. The company is focusing on enhancing operational efficiency in preparation for a public listing.