- Companies
- Innoviti
Innoviti Funding, Investors & Competitors
Innoviti has raised $80M across 9 funding rounds, most recently a $11M undisclosed-stage round in February 2026.
Last Innoviti funding round
$11M
Undisclosed stage · Feb 2026
Cumulative funding Innoviti raised
$80M
across 9 funding rounds
Key investors in Innoviti
Bessemer Venture Partners
Catamaran
Patni Financial Advisors
Alumni Ventures
FMO
Trifecta Capital Advisors
Panthera Growth Partners
Bharat Jaisinghani
About Innoviti
Innoviti is an Indian payments-technology company founded in 2002 and headquartered in Bengaluru. It provides merchant payment acceptance, routing, reconciliation and credit-enablement software for retailers, banks and brands. The platform connects point-of-sale transactions with enterprise systems and financial institutions, helping merchants manage payment methods, offers and settlement workflows. Revenue comes from transaction processing, software and related services rather than consumer banking. Customers include large retail chains and small merchants as well as issuing and acquiring institutions. The July 2015 financing was intended to expand products and distribution. Contemporaneous reports identify Catamaran Ventures and New India Investment Corporation as investors, while Titan was already a shareholder; none identifies TIDCO as a direct participant.
Founded
2002
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Innoviti Funding History
Innoviti has raised a total of $80M across 9 funding rounds.
Innoviti's first fundraising round was a $2M seed round in March 2014. The most recent completed round was a $11M undisclosed-stage round in February 2026.
Innoviti funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Feb 2026 | Undisclosed stage | Catamaran; Ashutosh Joshi; Bessemer Venture Partners; Patni Financial Advisors; Deepak Vinchhi | $11M | - |
| Mar 2025 | Seed | Ashutosh Joshi (lead); DEVI Group; Bessemer Venture Partners | $4M | Innoviti Technologies operates as India's largest payments-centric retail SaaS platform, enabling enterprise brands and SME channel partners to accept payments and integrate real-time sales data. Its core products include innoviti unipay, innoviti genie, and innoviti link, processing over Rs. 80,000 Cr. annually across 2,000 cities and over 50,000 merchants, with more than 50% market share in enterprise retail for food & grocery, lifestyle, and healthcare categories. The company serves clients like Tanishq, Adani Gas, Shoppers Stop, Inox, and Reliance Retail. In FY25 (ended March 31, 2025), Innoviti reported operating revenue of Rs. 143 Cr., marking 35% YoY growth from Rs. 106 Cr., with gross margins expanding 44% to Rs. 121 Cr. Net loss narrowed to Rs. 62 Cr. from Rs. 70 Cr., alongside a 12% EBITDA improvement. The company achieved EBITDA profitability at an ARR of Rs. 180 Cr. in July 2025 and targets 40% revenue growth to Rs. 200 Cr. in FY26 with full-year operating profitability and debt-free status. Innoviti, backed by Bessemer Venture Partners, FMO, Catamaran Ventures, and Patni Family Office, received RBI authorization as an online payment aggregator in March 2024, expanded to in-store payments. It closed a Series M round at Rs. 104 Cr. with participation from Bessemer and Patni Family Office to repay debts and scale product development, sales, and distribution, while preparing for a public listing. |
| Apr 2024 | Series E | Bessemer Venture Partners (lead); Patni Family (lead); Random Walk Solutions (lead); Catamaran; Winter Capital; Panthera Growth Partners; FMO; Alumni Ventures | $14M | Innoviti Technologies is India's largest payments-centric retail SaaS platform for enterprise brands and their SME channel partners, offering products like Innoviti Unipay, Innoviti Genie, and Innoviti Link. It processes over Rs. 80,000 Cr. in gross transaction volume annually across 2,000 cities and over 20,000 merchants, holding 50% market share in offline enterprise retail for food, grocery, lifestyle, and healthcare categories. The company raised a primary round in December 2024 led by Bessemer Venture Partners with participation from existing investors including the Patni Family Office, and concluded its Series E round in April 2025 led by Random Walk Solutions. In FY25 (April 2024-March 2025), Innoviti reported operating revenue of Rs. 106-105.6 Cr, up 35% year-over-year, with Innoviti Genie contributing 58% of revenue. Gross margins reached Rs. 84 Cr., EBITDA loss margin improved from -29% to -17% (inclusive of Rs. 4 Cr. ESOP cost), and net loss reduced to Rs. 52-62.1 Cr. By May 2025, the company achieved EBITDA profitability at an ARR of Rs. 180 Cr., with SaaS now over 70% of revenues. Innoviti targets 40% revenue growth to Rs. 200 Cr. in FY26 with full-year operating profitability and plans a proposed IPO by March 2026. It has raised $60M to date, including $11.4M secured with backing from Bessemer Venture Partners, Catamaran Ventures, FMO, and Patni Family Office, to fuel growth and product launches like UPI QR and Soundbox. |
| May 2022 | Series D | Alumni Ventures (lead); FMO (lead); Panthera Growth Partners (lead); Sanjoy Bhattacharya; Bharat Jaisinghani; Bessemer Venture Partners; Trifecta Capital Advisors; Patni Financial Advisors | $10M | Innoviti Payment Solutions operates a payments-focused fintech platform providing category-specific buying solutions to merchants in electronics, fashion, healthcare, and other sectors, managing over $10 billion in annual payments volume across more than 20,000 stores processing 90 million distinct customer purchases yearly. The company holds a dominant >70% share in enterprise purchase solutions in India and has developed technologies like G.E.N.I.E., achieving Rs 1,000 crore in gross transaction value since launch while targeting Rs 7,000 crore within 12 months. Innoviti has secured four patents, including one in the US, and won awards such as Mastercard’s Innovation Wizards and Deloitte Fastest Growing Companies in Asia 2020. In May 2022, Innoviti closed Rs 75 crore from FMO as part of its ongoing Series D round, followed by $22 million (Rs 160 crore total raised by then) with Alumni Ventures joining, targeting a final Rs 300 crore close including another Rs 140 crore shortly after. The Series D funding, ultimately reaching $45 million by July 2022 with additional $25 million led by Panthera Growth Partners alongside Alumni Ventures, Patni Family Office, FMO, and Bessemer Venture Partners, supports working capital for enterprise business, mid-market product marketing, online and B2B payment tech enhancements, and acquisitions in data sciences and marketing tech. Funds also aim to bolster mid-market lines in electronics, fashion, grocery, UPI-based products, and distribution. Around the Series D completion, Innoviti reported $18 million in annual revenue, having doubled pre-Covid payment processing volumes and growing at 70% CAGR, projecting $36-38 million for FY ending March 2023. CEO noted valuation tripled since Series C (March 2021, $5.63 million raised), though exact figure undisclosed; total funding across rounds reached approximately $75-99.6 million by mid-2022. |
| Jan 2022 | Series D | Sanjoy Bhattacharya; Bharat Jaisinghani; Bessemer Venture Partners; Trifecta Capital Advisors; Patni Financial Advisors | $11M | - |
| Mar 2021 | Series C | Trifecta Capital; Bessemer Venture Partners | $6M | - |
| Jul 2017 | Series B | SBI Ven Capital (lead); Catamaran; Bessemer Venture Partners | $19M | Innoviti Payment Solutions, a Bangalore-based fintech firm founded in 2002 by Rajeev Agrawal, raised Rs 120 crore (USD 18 million) in its Series B funding round on July 12, 2017, led by the Singapore-based SBI-FMO Emerging Asia Financial Sector Fund (jointly set up by Japan's SBI Holdings Group and Netherlands' FMO), with participation from Bessemer Venture Partners and existing investor Catamaran Ventures. This followed a Series A round of USD 5 million (Rs 30 crore) in June 2015 from Catamaran and New India Investment Corporation, used to rearchitect its uniPAY payments platform into uniPAY Next and launch smelending.com for small business lending. The fresh capital was earmarked to expand uniPAY Next, an omni-channel payments platform, and smelending.com, targeting payments and working capital loans for kirana stores, small merchants, and brand franchisees across retail supply chains. Innoviti had deployed 50,000 PoS terminals across 720 cities, processing Rs 20,000 crore in transactions annually, with 100% year-over-year growth in transaction value and volume. Clients included Reliance Retail, Titan, Landmark Group, INOX, Indigo, and Walmart. smelending.com provided short-term loans as low as Rs 30,000 for 15 days, processing over 150,000 loans annually for more than 30,000 small businesses and disbursing over USD 500 million to date. The company positioned itself as a leader in payments technology for merchants across web, mobile, in-store, and delivery channels, emphasizing technology-driven solutions for SMEs in emerging Asia. |
| Jul 2015 | Series A | Catamaran (lead); New India Investment Corporation | $5M | Innoviti raised INR300 million in a financing announced on 20 July 2015. Business Standard and Financial Express identify Catamaran Ventures and New India Investment Corporation as the investors, with Catamaran leading and obtaining representation on the company's board. Innoviti develops merchant payments technology used by retailers, banks and brands for transaction acceptance, routing, reconciliation and offer management. The company said the new capital would support technology development and market expansion. Titan was already an Innoviti shareholder and later publicised its finance chief joining the board, but that relationship does not make Titan, Tata Group or TIDCO investors in this specific round. No reviewed contemporaneous source names Tamil Nadu Industrial Development Corporation as a direct investor. The source-native amount is INR30 crore, or INR300 million; the live USD4.7 million field is retained as the database's converted amount. The event remains a valid venture financing but is excluded from TIDCO's direct deal history. |
| Mar 2014 | Seed | Tata Capital (lead) | $2M | - |
Who has invested in Innoviti?
19 investors have backed Innoviti across its funding rounds, including Bessemer Venture Partners, Catamaran, Patni Financial Advisors, Alumni Ventures, FMO and Trifecta Capital Advisors.
Lead investors include Ashutosh Joshi, Bessemer Venture Partners, Patni Family, Random Walk Solutions, Alumni Ventures and 5 other investors.
Innoviti Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 7 | Lead | Jul 2017 | ||
| 4 | Lead | Jul 2015 | ||
| 3 | Participant | Jan 2022 | ||
| 2 | Participant | Jan 2022 | ||
| -- | 2 | Lead | Mar 2025 | |
| 2 | Lead | May 2022 | ||
| 2 | Participant | Jan 2022 | ||
| 2 | Lead | May 2022 | ||
| 2 | Lead | May 2022 | ||
| 2 | Participant | Jan 2022 | ||
| 1 | Participant | Jul 2015 | ||
| 1 | Participant | Apr 2024 | ||
| 1 | Participant | Mar 2025 | ||
This data is available for Pro users. Sign up to see all 19 Innoviti investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialInnoviti Competitors
Innoviti competitors include listed companies like S&P Global, Moody's, Constellation Software and HiThink, and private ones like Ant Group and Mambu.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $25B | - | $79B | 3.2x | ||
| Publicly listed | $15B | $7.7B | $136B | 10.2x | ||
| Publicly listed | $7.7B | $3.8B | $87B | 11.4x | ||
| Publicly listed | $12B | $2.5B | $53B | 4.2x | ||
| Publicly listed | $905M | $533M | $23B | 18.5x | ||
| Private | - | - | $5.5B | - |
Innoviti Public Comps
Innoviti is still privately-owned, but its public comps include S&P Global, Moody's, Constellation Software, Block, PayPal, Fiserv, Adyen, Verisk Analytics, Global Payments and HiThink.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $15B | $7.7B | 9.9x | 10.2x | 19.8x | 19.3x | |||
| $7.7B | $3.8B | 12.1x | 11.4x | 24.4x | 21.8x | |||
| $12B | $2.5B | 4.9x | 4.2x | 22.6x | 15.5x | |||
| $24B | $2.2B | 1.9x | 1.8x | 20.8x | 10.1x | |||
| $33B | $7.2B | 1.6x | 1.5x | 7.3x | 7.4x | |||
| $21B | $8.9B | 2.9x | 3.1x | 6.8x | 7.2x | |||
| $3B | $1.4B | 6.3x | 6.0x | 13.4x | 11.7x | |||
| $3.1B | $1.7B | 9.9x | 9.5x | 18.2x | 16.8x | |||
This data is available for Pro users. Sign up to see all Innoviti competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Innoviti
| When was Innoviti founded? | Innoviti was founded in 2002. |
| Where is Innoviti headquartered? | Innoviti is headquartered in Bangalore, India. |
| Is Innoviti publicly listed? | No, Innoviti is a private, VC-backed company. |
| How much funding has Innoviti raised? | Innoviti has raised $80M across 9 funding rounds. |
| What was Innoviti's last funding round? | Innoviti's last funding round was a $11M undisclosed-stage round in February 2026. |
| Who are Innoviti's investors? | Innoviti's investors include Bessemer Venture Partners, Catamaran, Patni Financial Advisors, Sanjoy Bhattacharya, Ashutosh Joshi, Panthera Growth Partners, Bharat Jaisinghani, FMO, Alumni Ventures, Trifecta Capital Advisors and 9 others. |
| Which companies are comparable to Innoviti? | Companies comparable to Innoviti include Ant Group, S&P Global, Moody's, Constellation Software, HiThink and Mambu. |
See companies similar to Innoviti
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.




