India- Vyapar, mobile billing software for MSMEs raises Rs 36 crore in an internal round of funding

New Delhi, Sep 17 (KNN) Launched in 2016 with a motive to enable the Small and Medium Enterprises (SMEs) and Micro Small and Medium enterprise (MSME) Community to go digital, Vyapar, the mobile billing software, has raised around Rs 36 crore in an internal round of funding.

The funding was led by IndiaMart, India's largest online Business to Business Marketplace along with the participation of existing Investors India Quotient and Axilor.

Sumit Agarwal Founder, Vyapar said, '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.

Small and Medium businesses can use their app or desktop version for billing Goods and Services Tax (GST) invoices, managing stock inventory and accounting solution.

Vyapar today nearly boats a customer base of 1 Million along with 4.6 app rating on Google play store. So far, the Bengaluru-based start-up has raised around Rs 42 crore till date. 

To grow customer base and building the next set of major functionalities to provide complete business solution for MSMEs, the company will also allocate the fresh funds.

'Over the last two decades IndiaMART has effectively overcome the problem of access to market and technology by building a digital marketplace for MSMEs. 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, said Dinesh Agarwal, Managing Director, IndiaMART.

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