Funding · Financial Services

Innoviti raises ₹104 Cr to pay debt and boost sales

By Startup Enthusiast · 28 February 2026

What they do

Innoviti enables merchants to accept payments and integrate real-time sales data into business processes

The company closed a Series M round of ₹104 Cr led by existing investor Bessemer with new backers

Funds will partly repay debt while the firm targets an IPO within 18-24 months

Innoviti closed a Series M round raising ₹104 Cr ($11.4 Mn) in fresh capital.
Bessemer Venture Partners doubled down as an existing investor in this latest funding round.
New investors joining the round include Ashutosh Joshi, Arihant Patni, and Deepak Vinchhi.
The company plans to use the funds to pay off debt and strengthen its sales force.
Innoviti intends to file papers with SEBI for an IPO in 18-24 months.
This timeline extends from the previous target of a public listing within 12 months set in August 2024.
No exits occurred in this round as no shareholders sold their stakes.
The company reported a FY25 net loss of ₹62 Cr, which was trimmed by 12%.

The startup aims to reduce its FY26 pre-tax loss by 60% through improved efficiency.
EBITDA losses are projected to decrease by over 50% to around 10% in FY26.
Operating revenue grew 35% YoY to ₹142.6 Cr in FY25, broadly meeting targets.
The fintech sector is expanding rapidly with a total addressable market expected to exceed $2.1 Tn by 2030.

Innoviti helps merchants accept payments and integrate real-time sales data into critical business processes.
The company processes an annual purchase volume of over ₹80,000 Cr across India.
Its geographic reach spans across 2,000 Indian cities serving various retail and service clients.
Key clients include major brands like Tanishq, Adani Gas, Shoppers Stop, and Reliance Retail.
The product portfolio includes Innoviti Genie, a sales acceleration software solution for businesses.
Another core product is Innoviti Link, a link-based payment collection app for merchants.
Innoviti received RBI approval as an online payment aggregator in March 2024.
RBI permission was recently expanded to include physical in-store payments for the company.
The firm competes against established players like Razorpay, Paytm, and Pine Labs.

Innoviti plans to file IPO papers with SEBI within the next 18-24 months.
The company aims to reduce FY26 pre-tax losses by 60% compared to previous years.
Sales and distribution efforts will be strengthened specifically for the Innoviti Link product.

Bessemer Venture Partners (existing) — Venture capital firm that doubled down on its existing investment in Innoviti.
Ashutosh Joshi (new) — Individual investor known as a backer of Ola Electric.
Arihant Patni (new) — Investor representing the Patni Family Office.
Deepak Vinchhi (new) — Cofounder of JuliaHub who joined as a new investor.

Product: Payment gateway and PoS solution for merchants; AI-powered UPI acquirer backup application
Customers: Organized retail merchants and retailers across 2,000 cities in India
How it makes money: Payment processing commissions and transaction fees from merchant transactions
What sets it apart: AI-driven UPI acquirer backup ensuring payment continuity for organized retail