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Founded
2007
Headquarters
Mumbai (India)
Status
Series C
Company Details
Suvidhaa Infoserve Limited, founded in 2007 by Paresh Rajde, is a prominent service aggregator in India, focused on providing a wide range of financial and utility services to households through its innovative S-Commerce® platform.
Services Offered
- Utility Bill Payments
- Insurance Premium Collection
- Telecom and Mobile Recharges
- Travel Ticketing (Rail, Air & Bus)
- Domestic Remittance Services
- Merchant Acquiring Services
Innovations and Achievements
- Launching the sPay mobile-based digital payment platform in 2017.
- Introducing the Nano Credit digital loan product for underserved customers in 2015.
- Innovating cash-to-bank domestic remittance solutions, transforming a significant portion of the informal remittance market into formal banking channels.
Recognition
- The MetLife Foundation Inclusion Plus Award (2017)
- The Inclusive Business Leader Award by the International Finance Corporation (2011)
- Recognition in the Red Herring 100 Asia Awards (2009)
Mission
The company's motto emphasizes delivering convenience and reducing the need for consumers to queue for services.Overall, Suvidhaa stands out as a key player in India's digital payment landscape, striving to bridge the gap between traditional cash transactions and modern electronic payment solutions.
Key Metrics
Total Equity Funding
$37.8 million
No. of Funding Rounds
5
Latest Funding Round
$12.0Million, Series C
as of July 13, 2018
Post Money Valuation
$100.0Million
as of N/A
Funding Multiple
2.56
as of N/A
Investors
Norwest Venture Partners
and 4 moreEmployee Count
304
Similar Companies
Pine Labs
Exit Details
N/A
All Funding Rounds
| Date | Round Name | Amount | Valuation | Revenue | Revenue Multiple | Investors |
|---|---|---|---|---|---|---|
| July 13, 2018 | Series C | $12.0Million | $100.0Million | $16.8Million | 5.3x | Asset Alliance, Elara Capital, Mitsui, SACB |
| November 15, 2011 | Series C | $13.9Million | $119.0Million | - | - | Mitsui,IFC, Norwest Venture Partners |
| August 13, 2010 | Series B | $7.0Million | $50.7Million | - | - | Reliance Capital,IFC, Norwest Venture Partners |
| September 8, 2008 | Series A | $4.9Million | $8.4Million | - | - | Norwest Venture Partners . Reliance Capital ,Saffron Capital |