IndiaMART leads Series A investment in Vyapar, a business accounting software for MSMEs
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."
AsutoshUpadhyay, 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.”