Innoviti Technologies Pvt. Ltd., India’s leading payments-centric retail SaaS platform, has successfully closed its Series E funding round, raising ₹70 crore through a mix of equity and debt. The round was led by Random Walk Solutions, with significant contributions from existing investors Bessemer Venture Partners, Patni Family Office, and Alumni Ventures.
Innoviti, known for its advanced retail payment solutions, helps major enterprises like Reliance and Tanishq enhance revenue by unlocking hidden value at points of sale. The company’s flagship Enterprise POS solution, uniPAYNext, is achieving a 20% EBITDA margin, while its GENIEPlus Electronics EMI solution is growing rapidly at 80% annually. Despite some challenges, Innoviti is on track to achieve profitability within the next few quarters.
Vishal Gupta, Partner & India Head, Bessemer Venture Partners, said, “Innoviti has demonstrated a unique ability of delivering value-added SaaS through payment channels. We have seen their ability to retain and grow their relationships in the tough Indian enterprise retail market and are excited to support the next phase of their growth journey in the mid-market and online spaces.”
Arihant Patni, Patni Family Office, said, “We have seen the strategic positioning Innoviti enjoys in the Indian enterprise retail space and are excited to support their growth journey as they make inroads into mid-market retail and online spaces.”
Yev Gelfand, Alumni Ventures, said, “Innoviti has created a premium payments business in a tough Indian market. The superiority of their technology is apparent via their ability to continuously add value to their customers through new products. We are excited to support them in the next phase of their growth.”
The company is preparing for an IPO, expected within the next 12 months, following its recent RBI authorization to operate as an online payment aggregator.
Investors expressed confidence in Innoviti’s growth trajectory, highlighting its strategic position in the Indian enterprise retail market and its technological superiority in delivering value-added SaaS products through payment channels.
