Accounting platform Vyapar raises $30-M from WestBridge Capital, IndiaMart, others
Bengaluru-based Vyapar, an accounting and inventory management startup focussed on small businesses, has raised USD 30 million in a fresh fundraise led by WestBridge Capital. The round also saw participation from existing backers IndiaMart and India Quotient, along with Fortytwo.vc. As part of the transaction, IndiaMart has acquired shares for an aggregate investment of INR 61.55 crore via a mix of primary and secondary share purchases. Post this round, IndiaMart shall hold 27% in Vyapar on a fully diluted basis. Vyapar will use the primary funds to grow through digital and physical distribution channels. It also plans to increase hiring, launch new products and enable additional revenue streams. Founded in 2015, Vyapar is a mobile-first offering focussed on small businesses, providing them with digital accounting and billing solutions. The platform also allows these businesses to keep a track of inventory purchases and helps them reduce expenses while providing an overview of transactions.
From the Venture Intelligence PE-VC Deal Database: Between Jun-18 and Sep-19, Vyapar raised $6-M from Axilor Ventures, India Quotient, and others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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