Innoviti Technologies
Innoviti Technologies, founded in 2002, is a large financial services company specializing in payment processing and management, headquartered in Bangalore, India.
Company Overview
Innoviti Technologies operates in the Financial Services industry and was founded in 2002. With a team size of 576, it is classified as a large business. The company is headquartered in Bangalore, Karnataka, with additional locations in Indore, Madhya Pradesh; Kazhipattur, Tamil Nadu; and Mumbai, Maharashtra. Innoviti Technologies specializes in various payment solutions, including payment processing, management, and automation, and aims to help businesses acquire and retain customers by partnering with trusted brands and banks.
Specialties
Innoviti Technologies has a diverse range of specialties within the payments sector. These include payments processing, payments management, EMI solutions, payment automation, and merchant services. The company also focuses on collaborative commerce platforms, payment links, digital payments, payment gateways, and online payment aggregation. Additionally, it offers solutions for contactless payments, retail payment systems, and financial technology innovations, catering to both online and offline sales environments.
Products and Services
The company provides a comprehensive suite of products and services designed to streamline payment processes for businesses. Innoviti Technologies offers a payment gateway with a 99.6% success rate and a POS machine solution that supports multiple acquiring banks. It also provides integrated payment technology for real-time sales data integration, advanced sales promotion tools, and a Universal Payment Collection App. The app enables businesses to accept payments through various modes, including cards, UPI, and EMI, with automatic reconciliation features.
Market Presence
Innoviti Technologies operates across 28 states in India and processes an impressive monthly transaction volume of 3,000 crore. The company holds a 79% share in the enterprise retail market and processes over Rs. 60,000 Cr. of sales annually. It has established itself as India's largest integrated payment technology provider and has not lost a single customer in the last six years, demonstrating strong customer retention and market presence.
Funding and Growth
Innoviti Technologies has successfully raised significant funding, including $45 million in Series D funding led by Panthera Growth Partners and an additional $22 million in Series D funding with participation from Alumni Ventures. The company has a net revenue retention rate of 120% and has received an in-principle license from the RBI to operate as a payment aggregator. Its growth strategy focuses on expanding its collaborative commerce platform and enhancing payment solutions for businesses.