Payments co. Innoviti attracts Rs.40-Cr in Series E round led by Bessemer

Bengaluru-headquartered payment gateway and point of sales (PoS) provider Innoviti Technologies has raised INR 40 crore in a Series E round led by existing investor Bessemer Venture Partners and Patni Family Office. Several angel investors also joined the ongoing financing round. The proceeds will be deployed towards further growing the online business that has scaled 4X in the past 12 months.Innoviti provides payment gateway and PoS devices to merchants to facilitate online and card-based payments. Innoviti’s operating revenue grew to INR 110.2 crore in FY23 while its losses grew 17.8% to INR 86.5 crore in FY23.