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- Innoviti
Innoviti Funding, Investors & Competitors
Innoviti has raised $105M across 10 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
$105M
across 10 funding rounds
Key investors in Innoviti
Bessemer Venture Partners
Catamaran
Alumni Ventures
FMO
Patni Wealth Advisors
Trifecta Capital Advisors
Panthera Growth Partners
Bharat Jaisinghani
About Innoviti
Innoviti is a Bengaluru-headquartered fintech company delivering payment orchestration platforms for merchants in India. It supplies uniPAY for integrated card acquiring and management, quickEMI and pgEMI for installment-based credit card payments, and fastCollect for automated receivables from banks and e-commerce sites. The platform supports transactions in retail outlets, hospitals, hotels, jewelry stores, and online marketplaces. Innoviti processes billions in annual payments volume for over 10,000 enterprise clients including large retail chains and financial institutions.
Founded
2002
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Innoviti Funding History
Innoviti has raised a total of $105M across 10 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; Patni Wealth Advisors; Bessemer Venture Partners; 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. |
| Jul 2022 | Series D | Panthera Growth Partners (lead); Sanjoy Bhattacharya; Patni Wealth Advisors; Bharat Jaisinghani; FMO; Bessemer Venture Partners; Alumni Ventures; Trifecta Capital Advisors | $25M | Innoviti Payment Solutions Pvt Ltd, an India-based collaborative commerce platform focused on payment solutions for retailers in grocery, fashion, healthcare, and electronics, raised $45 million in a Series D funding round on July 8, 2022, led by Panthera Growth Partners with a $15 million investment. Participants included new investors Alumni Ventures and Patni Family Office (or Patni Wealth Advisors), existing investors FMO and Bessemer Venture Partners, debt from Trifecta Capital Advisors, and individuals like Sanjoy Bhattacharya and Bharat Jaisinghani. The funds aim to expand mid-market product lines in electronics, fashion, and grocery, develop UPI-based products, enhance distribution, and pursue acquisitions in marketing technology and data science. Innoviti's GENIE product, launched in 2021 for mid-market mobile retailers offering EMI/BNPL solutions, achieved over Rs. 1000 Cr. in annualized GTV and contributed to growth, with the company processing over $10 billion in annualized purchase volume and holding more than 70% market share in enterprise payments. The enterprise division is profitable, with plans to double revenues from 2022 to 2023 and reach full company break-even by FY23 end. This round follows prior fundraising, with $22 million raised by mid-June 2022, building on Series C used for GENIE development. Innoviti positions itself for Indian retail nuances, aiding digital businesses with conversion and profitability amid competition, with ambitions to become a sustainable business and potentially list on exchanges. |
| May 2022 | Series D | Alumni Ventures (lead); FMO (lead) | $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; Patni Wealth Advisors; Bharat Jaisinghani; Bessemer Venture Partners; Trifecta Capital 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); Titan Co.; New India Investment Corporation; Tamilnadu Industrial Development Corporation; Tata Group | $5M | Innoviti Payment Solutions raised Rs 30 crore ($5 million) in a funding round in July 2015 led by Catamaran Ventures with participation from New India Investment Corporation, Tamilnadu Industrial Development Corporation, Tata Group, and Titan Co. The funds were intended for business expansion, including marketing, product development, and scaling payments infrastructure to support real-time credit distribution to SMEs. At the time, Innoviti processed payment transactions worth over Rs 8,000 crore and originated loans worth over Rs 1,000 crore using its patented payments platform across online and offline channels. The company distributed over Rs 400 crore in loans annually to more than 10,000 SMEs across 20 cities through multiple lenders. |
| Mar 2014 | Seed | Tata Capital (lead) | $2M | - |
Who has invested in Innoviti?
22 investors have backed Innoviti across its funding rounds, including Bessemer Venture Partners, Catamaran, Alumni Ventures, FMO, Patni Wealth Advisors and Trifecta Capital Advisors.
Lead investors include Ashutosh Joshi, Bessemer Venture Partners, Patni Family, Random Walk Solutions, Panthera Growth Partners and 5 other investors.
Innoviti Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 7 | Lead | Jul 2017 | ||
| 4 | Lead | Jul 2015 | ||
| 3 | Participant | Jan 2022 | ||
| 3 | Lead | May 2022 | ||
| 3 | Lead | May 2022 | ||
| 2 | Participant | Jan 2022 | ||
| -- | 2 | Lead | Mar 2025 | |
| 2 | Lead | Jul 2022 | ||
| 2 | Participant | Jan 2022 | ||
| 2 | Participant | Jan 2022 | ||
| 1 | Participant | Jul 2015 | ||
| 1 | Participant | Jul 2015 | ||
| 1 | Participant | Jul 2015 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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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 OneConnect.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $25B | - | $79B | 3.2x | ||
| Publicly listed | $15B | $7.7B | $119B | 9.1x | ||
| Publicly listed | $7.7B | $3.8B | $80B | 10.6x | ||
| Publicly listed | $12B | $2.5B | $43B | 3.5x | ||
| Publicly listed | $899M | $530M | $23B | 18.9x | ||
| Private | - | - | $7.4B | - |
Innoviti Public Comps
Innoviti is still privately-owned, but its public comps include S&P Global, Moody's, Block, PayPal, Constellation Software, Adyen, Fiserv, 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 | 8.9x | 9.1x | 17.6x | 17.3x | |||
| $7.7B | $3.8B | 11.2x | 10.6x | 22.5x | 20.1x | |||
| $24B | $2.2B | 1.7x | 1.6x | 18.6x | 9.4x | |||
| $33B | $7.2B | 1.4x | 1.4x | 6.6x | 6.9x | |||
| $12B | $2.5B | 4.0x | 3.5x | 18.5x | 12.9x | |||
| $3B | $1.4B | 6.5x | 6.3x | 13.7x | 11.9x | |||
| $21B | $8.9B | 2.5x | 2.8x | 6.1x | 6.4x | |||
| $3.1B | $1.7B | 8.8x | 8.5x | 16.2x | 15.1x | |||
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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 $105M across 10 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 Wealth Advisors, FMO, Alumni Ventures, Sanjoy Bhattacharya, Ashutosh Joshi, Panthera Growth Partners, Bharat Jaisinghani, Trifecta Capital Advisors and 12 others. |
| Which companies are comparable to Innoviti? | Companies comparable to Innoviti include Ant Group, S&P Global, Moody's, Constellation Software, HiThink and OneConnect. |
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