IndiaMART leads Series A investment in Vyapar, a business accounting software for MSMEs
Chennai,, India, September 3rd, 2019: India’s largest online business-to-business marketplace IndiaMART announced its investment in Vyapar, a mobile-based business accounting software for small businesses. IndiaMART led the Series A investment round in Simply Vyapar Apps Pvt Ltd, owner of Vyapar, of Rs 36 crore along with the participation of existing investors India Quotient and Axilor.
‘Vyapar’ is an invoice accounting and stock inventory app with 1 million+ downloads and 4.6 app rating on google play store. Small and Medium businesses can use their app or desktop version for billing Goods and Services Tax (GST) invoices, managing stock inventory and accounting solutions.
Speaking about the investment, Dinesh Agarwal, Managing Director, IndiaMART said, “Over the last two decades IndiaMART has effectively overcome the problem of access to market and technology by building a digital marketplace for MSMEs. This investment in Vyapar that is solving the complex billing and accounting needs of MSMEs in a simplified manner is aligned with our long term vision to make doing business easy for millions of businesses by providing them tech-enabled easy and cost-effective solutions.”
Vyapar founder Sumit Agarwal said, “At Vyapar, our vision is to digitize every business in India and simplify the business processes that help them grow. IndiaMART’s scale and expertise will help us achieve this goal faster, in turn, transforming the MSME landscape in India.”
Asutosh Upadhyay, who led the investment at Axilor said, “Vyapar proves that the right business model can breakthrough an otherwise traditional sector. Their laser-sharp customer focus along with IndiaMART’s expertise in the sector will help them achieve a larger scale in India’s MSME segment.”
About IndiaMART
IndiaMART is India’s largest online B2B marketplace for business products and services, connecting buyers with suppliers. With 60% market share of the online B2B Classified space in India in fiscal 2017, IndiaMART focuses on providing a platform to Small & Medium Enterprises (SMEs), large enterprises as well as individuals. Founded in 1999, the company’s mission is ‘to make doing business easy’. As of June 30, 2019, the company offers a platform to 88 Mn registered buyers to search from 62 Mn products & services, and get connected to over 5.6 Mn suppliers.
For more information, please visit: https://corporate.indiamart.com
