The start of Bengaluru, Vyapar, raises 36 million rupees in Series A
CHENNAI: Online market from business to business IndiaMART has led a A series Rs 36 crore investment round in mobile accounting software Vyapar .
Existing investors India ratio & Axilor also participated in the investment round.
Vyapar is an invoice accounting & stock inventory app with over one million downloads & a 4.6 app rating on the Google Play store.
The Vyapar app helps businesses move their accounts from paper to the smartphone & claims it can be used by anyone even with no accounting knowledge.
Using Vyapar , small & medium sized businesses can manage raising Goods & Services Tax (GST) invoices, stock inventory & other accounting & book keeping tasks.
“Over the last two decades, IndiaMART has effectively overcome the problem of access to market & technology by building a digital marketplace for MSMEs," Dinesh Agarwal, MD, IndiaMART, said.
"This investment in Vyapar that is solving the complex billing & 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 & cost-effective solutions," he added.
"At Vyapar , our vision is to digitise every business in India & simplify the business processes that help them grow. IndiaMART’s scale & expertise will help us achieve this goal faster, in turn, transforming the MSME landscape in India," Vyapar founder Sumit Agarwal said.