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Exclusive: Microsoft, Oracle eye a stake in Indian payments platform

Technology giants Microsoft and Oracle are in talks to invest in an Indian payments platform, in a rare instance of a local fintech startup being ......

Microsoft , Oracle , Atamaran , Anthera-growth-partners , Nnoviti , Icrosoft , Mt , Ebjyoti-roy , M-amp-a ,

Payments platform Innoviti in talks for pre-IPO fundraise

Innoviti Technologies Pvt Ltd, which operates an eponymous fintech company, is putting together a plan to raise pre-IPO round of funding from a mix of ......

Innoviti-technologies-pvt-ltd , Technologies-pvt-ltd , Anthera-growth-partners , Essemer-venture-partners , Lueorchard , Ata-capital , Inance , Ebjyoti-roy , Enture-capital ,

Deals Digest: Funding activity slows down in November last week

Investment activity by private equity and venture capital firms slowed in the last week of November as the largest deals remained below the $25-million mark during the five-day ......

Style-icon , Ltratech-cement , Motorad , Anthera-growth-partners , Hicommerce , Inance , Mt , Alvika-maloo , Riyal-mahtta , M-amp-a , Rivate-equity

Electric bicycle-maker EMotorad bags INR 164 cr in funding, Auto News, ET Auto

EMotorad will use the funds to build a 150,000 square feet manufacturing facility, said its chief executive Kunal Gupta. The facility will be used to develop and manufacture in-house battery systems, motors, displays and chargers.

Pune , Maharashtra , India , Germany , Spain , Italy , France , Kunal-gupta , Shilpa-kulkarni , Panthera-growth , Alteria-capital

EV startup EMotorad raises Series B funding from Panthera Growth Partners, others

Inkodop Technologies Pvt Ltd, which operates electric vehicle startup EMotorad, said Monday it has raised around $20 million (Rs 164 crore) in a Series B funding round.

The ......

Pune , Maharashtra , India , Kunal-gupta , Sumedh-battewar , Rajib-gangopadhyay , Shilpa-kulkarni , Ivy-growth-associates , Inkodop-technologies-pvt-ltd , Panthera-growth-partners , Technologies-pvt-ltd , Singapore-based-panthera-growth

Innoviti adds top brands - HP, Bosch, Siemens, Voltas, & Blue Star - to strengthen its collaborative commerce platform

Bengaluru (Karnataka) [India], May 5 (ANI/PRNewswire): Innoviti Technologies [formerly Innoviti Payment Solutions] expands its affordability portfolio through the strategic acquisition of key CDIT brands. High-valued brands like HP, BSH Home Appliances, Voltas and BlueStar will further enable the company in its intent to strengthen the merchants to offer more rewarding brand EMI to their end customers. Through a collaboration with Innoviti, high-performing brands benefit from an opportunity to better their brand performance while merchants gain from getting brand offers for their consumers. Innoviti is a forerunner in launching new digital technologies to revolutionize the digital payment industry. Earlier this year through its collaboration with two banks - ICICI and Kotak Mahindra Bank, and Reliance Retail, Innoviti launched India's first acceptance of digital currency at an organised retail point of sale. Its collaborative commerce platform uniquely benefits all partners. While banks can expand their customer base, merchants and brands are able to attract the right consumers, and the end consumers can purchase premium products on easy EMIs. These brand acquisitions for Innoviti underscore the company's commitment to delivering innovative and affordable solutions to its consumers while raising the value proposition for all. Inexperienced technology partners often lack the skill of providing data insights or technology tools that help assess growth opportunities for big brands. This challenge often leads brands to spend more on gaining insights, negatively impacting their profit margins. The Innoviti platform and its intelligent software not only help capture valuable purchase data but through its smart analytical capabilities it can produce razor-sharp consumer insights. These help brands to create better brand offers for consumers and in turn, help them partner more effectively with merchants and banks to build a win-win proposition for all. This uniquely positions Innoviti as a true growth partner for brands like HP, Bosch, Siemens, Voltas and Blue Star. Speaking on the acquisition, Murali Gopalakrishna Rao, Vice President, Partners and Alliance - Innoviti Technologies said, "We are the preferred technology partner for growth-oriented businesses looking to increase their sales rapidly. Conventional payment aggregators lack the capabilities to provide an agile software platform that widens the growth opportunity for merchants, banks, and brands. Innoviti's growth tool has cross-functional and cross-purpose utility and will be particularly useful for brands that seek consumer insights to deploy better offers to improve their ROI. I am excited that Innoviti's unique 'Discoverability tool' and 'Purchase tool' will provide these brands with better insights into the consumer journey, enabling them to create better offers while we help them increase their sales at one-third of the cost." Innovation has led Innoviti to emerge as a leader in the consumer finance industry, and the acquisition of these brands is a significant step towards furthering that status. The brand EMIs offered through the Innoviti platform will empower merchants to make it easier for consumers to buy their aspirational brand products. Consumers across India can buy their desired brands on easy EMI by simply swiping their credit or debit cards on an Innoviti platform at stores across India. No-cost EMIs not only allow consumers to access easy loans but also boost their credit scores and induce financial discipline. The agile and simple Innoviti platform effectually processes digital payments, while enabling businesses to grow better profit margins through the use of its growth tools. These futuristic tools remain way ahead of the conventional solutions available in the market today. https://www.innoviti.com Innoviti Technologies (formerly, Innoviti Payment Solutions) is India's largest provider of collaborative commerce solutions to Enterprise merchants with a 79 per cent market share of all purchases being paid for digitally in this segment. Innoviti vision is to help people make better purchase decisions by providing better purchase options. The company processes over 10B USD of purchases from over 2000+ cities with a volume throughput per installation that is 2X of the country's average. Bessemer Venture Partners, USA, FMO, Netherlands, Panthera Growth Partners, Singapore, Alumni Ventures, USA, Catamaran Ventures, and Patni Advisors are investors in the company. The company has 7 patents awarded with 20 more filed. Innoviti is the winner of Mastercard's Innovation Wizards Award, Reliance's Most Promising Growth Consumer Finance Award and Deloitte Fastest Growing Companies in Asia award in 2020. This story is provided by PRNewswire. ANI will not be responsible in any way for the content of this article. (ANI/PRNewswire)

Singapore , Netherlands , India , United-states , Murali-gopalakrishna-rao , Deloitte-fastest-growing-companies-in-asia , Kotak-mahindra-bank , Siemens , Innoviti-payment-solutions-is-india , Innoviti-technologies , Reliance-retail , Vice-president

Innoviti facilitates third round of Employee Share and ESOPs resale; Kickstarting the new financial year with a bang

Bengaluru (Karnataka) [India], April 27 (ANI/PRNewswire): Innoviti Technologies (formerly Innoviti Payment Solutions), India's largest collaborative commerce platform, enables employees to sell their ESOPs and shares to secondary buyers for the third time. The pay-out as the second tranche within the financial year, marks the start of the new financial year to boost team confidence. The organization was also certified as a Great Place to Work for the second time in a row in February 2023, with a phenomenal overall score of 85 points. The ESOP scheme is open to all full-time Innoviti employees, across all grades, with options being awarded based on performance and loyalty. The share sale was facilitated to Innoviti employees who had expressed an interest in selling their shares. Navneeth Sulakhe, Senior Vice President, and Head HR, at Innoviti, said, "Innoviti as a frontrunner in India's enterprise retail sector is recognized as the most valued technology partner by the country's top businesses. This is a testament to our investment in continuously innovating our core platform. The performance-driven culture at Innoviti is geared towards especially rewarding the effort, creativity and potential to develop cutting-edge solutions that inspire new limits. To express our appreciation and empower our employees to live a more fulfilling life, we launched an ESOP and share buyback program at the start of this financial year. Through this initiative, our teams are motivated to work harder for themselves while contributing to the organization's progress." The company's core brand values of urgency, curiosity, self-management, quality and risk-taking have earned high respect from clients across the board, enabling it to record impressive statistics like 90% weekly transactions across stores, which is 65% above the industry average, a $1.2m GTV per software usage that is double the industry average, and a -25% churn rate. This is fuelling Innoviti to be on a high-growth transformation path. The company is set to double its revenue and is focused on creating better top-line and bottom-line incomes. Innoviti holds leadership in providing technology-led solutions and platforms for enabling businesses to profit while processing payments digitally by leveraging the public digital infrastructure and technologies. Its smart growth tools help innovate futuristic collaborative platforms with features like cost-sharing and co-marketing collaborations that create better business efficiencies and accessibility for smaller businesses. Businesses grow up to 3x revenue at 1/3 cost using Innoviti growth and efficiency tools positioning it as market leader with annualised GTV of $10B For media queries write to Debashree Basu, Debashree.basu@innoviti.com Innoviti Technologies Pvt. Ltd. | https://innoviti.com/ Innoviti Technologies (formerly, Innoviti Payment Solutions) is India's largest provider of collaborative commerce solutions to Enterprise merchants with a 76% market share of all purchases being paid for digitally in this segment. Innoviti vision is to help people make better purchase decisions by providing better purchase options. The company processes over 10B$ of purchases from over 2000+ cities with a volume throughput per installation that is 2X of the country's average. Bessemer Venture Partners, USA, FMO, Netherlands, Panthera Growth Partners, Singapore, Alumni Ventures, USA, Catamaran Ventures, and Patni Advisors are investors in the company. The company has 7 patents awarded with 21 more filed. Innoviti is the winner of Mastercard's Innovation Wizards Award, Reliance's Most Promising Growth Consumer Finance Award and Deloitte Fastest Growing Companies in Asia award in 2020. This story has been provided by PRNewswire. ANI will not be responsible in any way for the content of this article. (ANI/PRNewswire)

United-states , Netherlands , India , Singapore , Navneeth-sulakhe , Debashree-basu , Deloitte-fastest-growing-companies-in-asia , Innoviti-payment-solutions , Innoviti-payment-solutions-is-india , Innoviti-technologies , Great-place , Senior-vice-president

Innoviti Technologies is certified Great Place to Work again

Bengaluru (Karnataka) [India], February 23 (ANI/PRNewswire): Innoviti Technologies gets Great Place To Work Certified for the second consecutive year in 2023. Over 82 per cent of Innoviti employees whole-heartedly participated in the survey conducted by Great Place to Work and endorsed their belief in Innoviti being the best place amongst mid-sized companies by creating a steep 21 per cent increase from last year's result. In 2022, Innoviti had an overall score of 70 points but within a year through the implementation of people-centric and growth-focused policies, the score has risen by a whopping 15 points to an overall 85 points, raising the bar for performance. A 2x rise from the industry normal of 8-9 points is a feat in itself. The certification stands a clear testimony of new age growth-oriented leadership that has positioned Innoviti as a leading employer within the midsized tech/fintech industry. The maximum workforce gave a huge thumbs-up to key factors of growth like - Credibility of management improved [15 point rise to 85], - Respect for people [16 point rise to 83], - Fairness at the workplace [11 point rise to 85], - Pride [14 point rise to 87], - Camaraderie between people [17 point rise to 83], Great Place To Work is the global authority on workplace culture. Since 1992, they have surveyed more than 100 million employees worldwide and used those deep insights to define what makes a great workplace: trust. Their employee survey platform empowers leaders with the feedback, real-time reporting, and insights they need to make strategic people decisions. The Institute serves businesses, non-profits and government agencies in more than 60 countries and has conducted pioneering research on the characteristics of great workplaces for over three decades. Innoviti Technologies, known for being a growth-oriented company with a right-people, fit-right approach, has always supported its people to retain their uniqueness while pushing them to embrace a collective common growth path. People-centric initiatives have built Innoviti as real caretakers especially during the pandemic. Boosting group medical coverage by 4x, offering unique incentives to front-line field resources, implementing two increment cycles, paying out annual incentives and performance-linked variable bonuses have been specially appreciated. Initiatives across functions have reduced the company's attrition rate to 3 per cent in 2022-23, which is much lower than the industry average. Amrita Malik, Co-Founder and President, Innoviti Technologies, said, "Right people with the right skill-sets are essential to adapt to the fast changing market dynamics. It is extremely satisfying that 82 per cent of our team members endorsed our efforts in realizing our vision and embraced our passion to excel. We have invested in young, ambitious, and adaptable workforce who have the courage to face any market challenge fearlessly. This is our greatest leverage point, allowing us to build and offer digital payment products that are greatly valued for their premium offerings. A committed team and our shared mission is why we are consecutively being certified as a Great Place to Work. Based on principles of excellence first, Innoviti provides a stimulating ground for high achievers, inspiring them to achieve more while doing it right. I am happy that 'Innovitians' relate well with our philosophy. Together, we will continue to enable the organization to reach greater heights while placing new milestones." Navneeth Sulakhe, Senior Vice President and Head, Human Resources, Innoviti Technologies, said "At Innoviti, our cultural values of curiosity, urgency, risk-taking, self-management, and quality drive to listen first and act quickly on feedbacks, demonstrating our unwavering commitment to continuous improvement. Innoviti opens door to those who want to excel and foresee a growth career ahead of them. This place supports new skill enhancement, learnings on new challenge acceptance and delivery process, and teaches how contribute meaningfully to any growth mission. Investing in great talent is investing in a great future ready organization that enables success for all." https://www.innoviti.com Innoviti Technologies (formerly, Innoviti Payment Solutions) is India's largest provider of collaborative commerce solutions to Enterprise merchants with a 76 per cent market share of all purchases being paid for digitally in this segment. Innoviti's vision is to help people make better purchase decisions by providing better purchase options. The company processes over 10B USD of purchases from over 2000+ cities with a volume throughput per installation that is 2X of the country's average. Bessemer Venture Partners, USA, FMO, Netherlands, Panthera Growth Partners, Singapore, Alumni Ventures, USA, Catamaran Ventures, and Patni Advisors are investors in the company. The company has 6 patents awarded with 21 more filed. Innoviti is the winner of Mastercard's Innovation Wizards Award, Reliance's Most Promising Growth Consumer Finance Award and Deloitte Fastest Growing Companies in Asia award in 2020. In India, the institute partners with more than 1400 organizations annually across over 22 industries to help them build High-Trust, High-Performance Cultures designed to deliver sustained business results. Hundreds of CEOs and CXOs from India Inc. are part of the great place community that is committed to the vision of making India a great place to work for all. The Institute's research shows that great workplaces are characterized by great leadership, consistent employee experience, and sustainable financial performance. These organizations can deliver a consistent experience to all their employees irrespective of their role, gender, tenure, or level. Their leaders believe in the vision of creating and sustaining a great place to work for all and role models being for all leaders. Learn more at https://www.greatplacetowork.in/ and on LinkedIn, Twitter, Facebook and Instagram. Media Contact Sumanth C A mediainfo@innoviti.com This story is provided by PRNewswire. ANI will not be responsible in any way for the content of this article. (ANI/PRNewswire)

United-states , India , Netherlands , Singapore , Navneeth-sulakhe , Instagram , Linkedin , Twitter , Innoviti-payment-solutions-is-india , India-inc , Deloitte-fastest-growing-companies-in-asia , Facebook

Innoviti Technologies announces strategic partnership with Enigmatic Smile to offer unique rewards program to India

Bengaluru (Karnataka) [India], January 30 (ANI/PRNewswire): Enigmatic Smile, a reward technology provider, focused on linking high-value rewards to consumers' payment cards and Innoviti Technologies (formerly, Innoviti Payment Solutions), India's largest collaborative commerce platform, have entered into a strategic partnership to offer consumers in India, the best in breed reward programmes. Enigmatic Smile works seamlessly, and invisibly, merging in the background of existing reward programmes, re-directing billions of consumer-spend to retailers in its network. As a key partner Enigmatic Smile acts as a technology bridge, to helps retailers reach the consolidated customer bases of all connected reward programmes. The strategic partnership will help Enigmatic Smile to reach Innoviti's 9 million+ consumers across 2000+ cities, covering 76 per cent of enterprise market of Innoviti. With collaborative access to all key large merchants, this partnership will help the consumers of these outlets to get the privilege of earning rewards each time they make a transaction. Additionally, Innoviti's innovative and efficient support tools will ensure 88% active stores through the week with negligible downtime. Bish Smeir, CEO, Enigmatic Smile, said, "This partnership with Innoviti completes the picture for our service in India, consolidating Enigmatic Smile's market position, and allowing us to enable 100% of all enterprise grade merchants across the country with a flick of a switch. Bringing together the entire payment landscape of a country, especially one as big as India, was an extraordinarily hard task, but it is now one that is complete. This is not the end but start of new journey. Forward thinking cashback websites, affiliate networks and banks can now help co-create the ecosystem, to get-going straight away. Enigmatic Smile will make rewards more rewarding in India for companies and retailers in India." Prasad Sonavane, Chief Revenue Officer, Innoviti, said "At Innoviti, we are on a fast-paced transformation journey and through collaboration we want to bring about acceleration in businesses across sectors. As the key payment's technology collaborator in this ecosystem, our aim remains to empower merchants to deploy offers that directly benefit end consumers and help them enhance the consumer experience. Our collaboration with Enigmatic Smile is that direction and we hope to impact our customer base by adding enhanced value to their services charter." Through this unique collaboration Innoviti will also help reach Enigmatic Smile Reward Programme to the general trade retailers of India, giving them a unique opportunity to modernize and upgrade their marketing tools, communication and card-linked rewards. While all retailers on the Innoviti platform will be enabled to deploy offers, for free to millions of end users, developers can integrate Enigmatic Smiles' APIs for free to avail of merchant offers, and large consumer organizations can cut short development timelines by releasing bespoke rewards apps, on both iOS and Android - developed and deployed by Enigmatic Smile engineers within 4 weeks. https://www.enigmaticsmile.com/ Enigmatic Smile is a rapidly expanding Reward Tech organization, focused on decentralizing, and defragmenting the broken payment-linked rewards industry. ES technology already integrates 27 financial services organizations who process POS transactions for up to 90% of the world's merchants. https://www.innoviti.com Innoviti Technologies (formerly, Innoviti Payment Solutions) is India's largest provider of collaborative commerce solutions to Enterprise merchants with a 76% market share of all purchases being paid for digitally in this segment. Innoviti's vision is to help people make better purchase decisions by providing better purchase options. The company processes over 10B$ of purchases from over 2000+ cities with a volume throughput per installation that is 2X of the country's average. Bessemer Venture Partners, USA, FMO, Netherlands, Panthera Growth Partners, Singapore, Alumni Ventures, USA, Catamaran Ventures, and Patni Advisors are investors in the company. The company has 6 patents awarded with 21 more filed. Innoviti is the winner of Mastercard's Innovation Wizards Award, Reliance's Most Promising Growth Consumer Finance Award and Deloitte Fastest Growing Companies in Asia award in 2020. Media Contact- Sumanth C A Email- mediainfo@innoviti.com This story is provided by PRNewswire. ANI will not be responsible in any way for the content of this article. (ANI/PRNewswire)

United-states , India , Netherlands , Singapore , Prasad-sonavane , Bish-smeir , Innoviti-payment-solutions , Enigmatic-smile-reward-programme , Deloitte-fastest-growing-companies-in-asia , Innoviti-payment-solutions-is-india , Enigmatic-smile , Innoviti-technologies

Innoviti and OneCard Partner to Enable Deeper Financial Inclusion with Offline Payments in India

Bengaluru (Karnataka) [India], January 16 (ANI/PRNewswire): India's largest collaborative commerce platform, Innoviti Technologies (formerly, Innoviti Payment Solutions) has partnered with OneCard - a credit card re-imagined for the mobile generation, to enable deeper financial inclusion with offline payments in India. Innoviti's technology will help improve the reach of digital payments with OneCard's more than 600,000 users across the country. Merchants can now offer a better-than-online experience by helping OneCard's customers to buy anything in the store on zero-cost EMI using Innoviti Genie and Unipaynext. With over two decades of experience, Innoviti has raked over 9 million+ customers spread across 2000+ cities. This partnership will help bring the needed visibility to merchants who will now be able to reach customers more flexibly. Prasad Sonavane, Chief Revenue Officer, Innoviti, said, "Innoviti Technologies is happy to announce OneCard as our new partner in the lending ecosystem. OneCard partnership enables us to increase the range of our affordability options we offer to merchants across various segments. They have the right set of qualifying criteria for choosing card members who spend at merchant stores, in segments of interest to us like mobiles, electronics, retail shopping including categories like food, dining, groceries, movies, etc., where Innoviti is a leader. This reinforces our commitment towards being the trusted partner of growth to our merchants and to customers purchasing at our merchant outlets, as being a purchase partner to every Indian with our Collaborative Commerce Platform." OneCard, India's own metal credit card, is loaded with rewards, privileges and best-in-class safety and security features. It is issued across the country by leading Banks, and customers can easily tap-and-pay on all merchant outlets across the country and enjoy a 1% Forex rate when travelling abroad. With zero joining and annual fees, the card provides 5X rewards on the Top 2 spend categories every month. Through this partnership with Innoviti, OneCard's expansive network of bank partners stands to further the reach of credit lending in India. OneConsumer Services, which has created OneCard, aims to digitally revolutionize credit and payments in India. Commenting on the partnership, Anurag Sinha, Co-founder & CEO, OneCard, said, "We are delighted to partner with Innoviti Technologies, one of the leading commerce solution providers for merchants in India. Through this partnership, we aim to provide easy and secure offline payment solutions to customers across the length and breadth of the country. As India progresses towards a 5 trillion USD economy, it is imperative to address the credit needs of customers and boost their purchase power through payment solutions like zero cost EMIs. We are hopeful that this partnership will enable customers to enjoy a hassle free shopping experience using our secure, quick and affordable installments through Innoviti's large merchant base." Innoviti Technologies (formerly, Innoviti Payment Solutions) is India's largest provider of collaborative commerce solutions to Enterprise merchants with a 76% market share of all purchases being paid for digitally in this segment. Innoviti's vision is to help people make better purchase decisions by providing better purchase options. The company processes over 10B$ of purchases from over 2000+ cities with a volume throughput per installation that is 2X of the country's average. Bessemer Venture Partners, USA, FMO, Netherlands, Panthera Growth Partners, Singapore, Alumni Ventures, USA, Catamaran Ventures, and Patni Advisors are investors in the company. The company has 6 patents awarded with 21 more filed. Innoviti is the winner of Mastercard's Innovation Wizards Award, Reliance's Most Promising Growth Consumer Finance Award and Deloitte Fastest Growing Companies in Asia award in 2020. Visit: https://www.innoviti.com OneCard is a mobile-first credit card created by OneConsumer Services. The founders come from banking backgrounds with deep expertise in payments, credit and building and scaling digital businesses. OneCard is on a mission to re-imagine credit and payments from first principles. Visit: www.getonecard.app Media Contact for Innoviti Technologies: Sumanth C A sumanth.airani@innoviti.com Media Contact for OneCard: Ritika Kar ritika.kar@adfactorspr.com This story is provided by PRNewswire. ANI will not be responsible in any way for the content of this article. (ANI/PRNewswire)

United-states , India , Netherlands , Singapore , Ritika-kar , Anurag-sinha , Prasad-sonavane , Innoviti-payment-solutions , Oneconsumer-services , Deloitte-fastest-growing-companies-in-asia , Innoviti-payment-solutions-is-india , Innoviti-technologies