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BizPay secures Seed round funding led by Inflection Point Ventures

By Gloria Mathias

August 17, 2023

  • BizPay
  • Digital India
  • Expense Management Platform

BizPay, Seed Round Funding, Bizpay has raised an undisclosed amount in a Seed Round led by Inflection Point Ventures. The company plans to use 20% of the funds for product development, 60% for marketing, and 20% for other purposes.

The platform offers a prepaid card solution integrated with advanced SaaS software, enabling corporates to streamline expense management, gain insights through analytics, and enforce policy compliance.

Vikram Ramasubramanian, Partner, Inflection Point Ventures, says, “We are thrilled to be part of BizPay’s journey towards reshaping the corporate expense management landscape in India. The innovative integration of prepaid cards and advanced SaaS software presents a transformative solution for businesses to streamline expenses, gain actionable insights, and ensure compliance. Inflection Point Ventures is excited to support BizPay as they look to unlock efficient and insightful corporate expense management.”

Currently operating across India, Bizpay has established a robust presence and has plans to enter Middle East and North African markets. The company is set to broaden its reach and extend its expense management solutions to a global audience.

Mikdad Saleem Merchant, Founder, Bizpay noted, “Over my 13+ years in auditing and accounting, I repeatedly observed that employee expenses outside the office were a significant source of errors and losses. Delayed or missing reimbursements caused frustration for employees, while lack of visibility and control led to overspending. To address these pains and empower businesses, we founded BizPay. By integrating a comprehensive software suite with corporate cards, digital wallets, and Travel Management Solutions, BizPay emerged as the solution to track spending, curb wastage, and drive substantial savings for businesses of all sizes.”

BizPay is a mobile-first expense management software suite offering automated corporate prepaid cards, apps, and services to help businesses stay within budget, ensure policy compliance, and provide real-time spending visibility for managers.

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