B2B startup is also known as enterprise startups. Rather than any usual startups, the customers of this startup are another companies themselves. B2B payment requires innovation. The companies may have used just traditional ways prior to now. However now, modern companies and firms are looking for modern ways of payments. Therefore, this has paved the way for new startups.
The following is the list of the top emerging B2B payments start-ups in India :
Based in Mumbai, Airpay is a platform that provides various financial services. For instance, payment Gateway, mobile POS, net Banking, digital payments, and other similar services. Amit Kapoor, Kunal Jhunjhunwala and Rohan Deshpande have incorporated Airpay in 2012.
Fund Raised: US$ 3.6M.
Investor(s): Kalaari Capital, Rajesh Jhunjhunwala, and Rakesh Jhunjhunwala.
Based in Mumbai, Benow is a platform where the user can make payments, get EMI, collect credit-points, bundle products, and transactions together, and avail similar services. It was founded by Sudhakar Ram and Sooraj VS in 2016. Since its inception.
Investor(s): JioGenNext and Mastek.
Based in Mumbai, Bulk MRO has a great experience and proven systems for supplying Industrial Products and emergency Deliveries of PPE. It was incorporated in 2015 by Gaurang Shah and Devang Shah.
Fund Raised: US$ 9.98M.
Investor(s): ACE & Company, Afore Capital, Arab Angel, Bain Capital, Dream Incubator, FJ Labs, Hack VC, Industry Ventures, Rebright Partners, Refactor Capital, Switch Ventures, Upshift Capital, Wisemont Capital, and Y Combinator.
Based in Ahmedabad, DSYH helps sellers to ease operations on multiple marketplaces. It connects all sales, accounting, inventory, and reconciliation. Therefore, there is no requirement for manual data entry. They expertise in expertise in Inventory management, Accounting Sync & Tally, Dispute management, Business Intelligence & Analysis. Above all, it helps in reconciliation. DSYH is now Vin Reco.
Fund Raised: US$ 320,000.
Investor(s): Artha India Ventures, JioGenNext, Venture Catalysts (Mumbai), Zaffiro Ventures
Based in Mumbai, Enkash is a startup that has a unique business model revolving around the corporate card. Enkash was established in 2018, by Hemant Vishnoi, Naveen Bindal, and Yavendra Tyagi. Since its inception, it is bringing innovation in the industry. For instance, “Freedom Card”-Corporate-card for SMEs is one of their new product.
Fund Raised: US$ 3.5M.
Investors: Axilor Ventures and Mayfield Fund.
Based in Bengaluru, Fingage helps its clients which mainly include freelancers, online sellers, another startup, and SMEs. The startup helps them to outsource their accounting and finance. For instance, they provide services like invoice creation, cash flow management, record expenses, file GST returns, and get their services for nearly US$ 55 annually. It was incorporated in 2017 by Shubhum Khandelwal.
Investor(s): JioGenNext, and Kotak Mahindra Bank.
Based in Ludhiana, Ginvoicing helps its clients to overcome the problem related to matters of GST. Since its inception in 2017, GInvoicing has had great growth. For instance, it already has nearly 1412 clients and has made a sale of US$ 629 M.
Based in Bangalore, Hylobiz offers Seamless ERP/Business tools integration, Digital Payment Collection, Quick Settlement, Automatic Reminders, and Reconciliation. It was incorporated in 2019 by Vishal Gupta, Anurag Rastogi, Lakshmi Thampi, and Ashish Mahal. The startup has its active operations in India, UAE, and Bahrain. It has crossed US$ 5M mark in transactions. Above all, it is also earning a revenue of more than US$ 20,000.
Fund Raised: US$ 750,000.
Based in Bangalore, Incento helps it’s users to make cross-currency transactions. For instance, it may help the user to complete a transaction between the dollar and rupee. Above all, it helps the users to forgo the work related to the exchange rates and other similar works.
Fund Raised: US$ 80000.
Investor: Consensys Labs.
Based in Gurugram, Loan Simple helps the micro retailers to extend their “Line of Credit”. In other words, it helps micro retailers to raise short term capital. The start-up was founded in 2017 by Sanny Choudhary, Ashutosh Kumar, and Daman Kohli.
Investor(s): Leo Capital.
Based in Gurgaon, Novaplay a gaming company. In addition to games, it also offers B2B payment services. It was incorporated in 2016 by Akshat Rathee.
Fund Raised: US$ 1M.
Based in Bangalore, Novopay presents old banking services in different new ways. for instance, the retailers can turn their shop into an Aadhar ATM and can earn great commissions. in addition to that, other services include Money Transfer, Bill Payment, Mobile Recharge, Dth recharge, and similar services. It was incorporated in 2014 by Gautam Bandyopadhyay, Sridhar Rao, and Shrikanth Nadhmuni.
Investor(s): Infrastructure Development Finance Company, Khosla Labs, Khosla Ventures, Unitus Ventures.
Based in Noida, Pine Labs offers merchants services which are a proper blend of technology and financial services. The company connects financial institutions and consumer brands. Therefore, helping to empower merchants by delivering value to their retail customers. It was incorporated in 1998 by Lokhvir Kapoor, Tarun Upadhyay, and Rajul Garg.
Fund Raised: US$ 507M.
Investor(s): Actis, Advent Capital Management, Altimeter Capital Management, Flipkart, Madison India Capital, MasterCard, PayPal Holdings, PayPal Ventures, Sequoia Capital India, Sofina, and Temasek Holdings.
Based in Delhi, ProcMart helps the business to reduce its burden regarding the inventory. In other words, it helps the business in inventory optimization. It was established in 2015 by Anish Popli, Sahil Joshi, and Pratik Potnis. The startup has already made a great customer portfolio. For instance, its major clients include Avery Dennison, Nestle, Legrand, and Colgate.
Investor(s): BW Accelerate, Dinesh Agarwal, IndiaMART.
Based in Banglore, Tarang Tech is one of the leading E-payment solutions providers. It offers payment gateways, payment processors, card associations, and other similar services. Tarang has a great customer portfolio. For instance, it has the experience of working with companies like First Data Management Systems and Verisign. It was incorporated in 2000, by Rama Kumar V.
Fund Raised: US$ 5.5M.
Investor(s): Ashok Narasimhan, GIV Venture Partners, Sequoia Capital India, and WestBridge Capital Partners.
Based in Noida, Since its inception in 2015, Tradologie’s is a future-focused startup. For instance, its main aim is the digitalization of current “Import-Export” and “Bulk Domestic Trade”.
Fund Raised: US$ 1 M.
Based in Mumbai, TranZact is a great startup for both buyers and sellers. For instance, it offers free e-Invoicing, faster payments, and visibility on account receivables for suppliers. On the other hand for buyers, it provides more control and visibility over entire procurement. It was incorporated in 2016, by Ritesh Kumar, Sharad Sen Sharma, and Rohan Sen Sharma.
Fund Raised: US$ 0.42 M.
This research article has been produced by Investocracy, a company focused on connecting startups from emerging markets with Japanese investors.
Are you a startup looking for investment? Please reach out to us at firstname.lastname@example.org.