A series D financing headed by Panthera Growth Partners garnered $45 million for the Indian fintech company Innoviti (PGP). Trifecta Capital also contributed money to the round through debt financing.
Innoviti, a collaborative commerce facilitator founded in 2002, offers a payment terminal that connects banks, product companies, and retailers. By using payment transaction data to target customers, the platform also aids its clients’ businesses in increasing sales and operating more effectively.
The business claimed to handle over $10 billion in yearly gross transaction value and over 90 million unique purchases annually. By the end of the next year, the company wants to have doubled its revenues.
With the additional funding, Innoviti plans to grow its product offerings and add new businesses in the data science and marketing technology sectors.
After the company announced the initial closing of its US $250 million Fund II last week, the most recent transaction represents PGP’s first significant investment. The Singapore-based VC company invested $15 million USD in Innoviti during this round, according to a release.
