back Back

BizPay secures Seed round funding led by Inflection Point Ventures

By Gloria Mathias

August 17, 2023

  • BizPay
  • Digital India
  • Expense Management Platform
Share

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.

Previous Article

August 17, 2023

Aktia Life chooses Sapiens to enhance life insurance systems

Read More
Next Article

August 17, 2023

HSBC unveils ETF Servicing Platform in partnership with Calastone

Read More






IBSi Daily News Analysis

cloud,

July 19, 2024

BizPay

SMEs leverage cloud to gain competitive edge, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

July 19, 2024

Airwallex obtains AFSL for expansion into retail investment offering

Read More

July 19, 2024

MyZoi launches inclusive digital wallet for the underbanked

Read More

July 18, 2024

Capital on Tap renews partnership with GDS Link

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024