For the purpose of expanding FinTech, Bengaluru's Innoviti raises INR 40Cr from Bessemer and Patni.

According to an Entrepreneur India report, the round was led by well-known investors Bessemer Venture Partners and Patni Family Office, with additional participation from a number of angel investors.

With a focus on point-of-sale (PoS) systems and payment gateways, Innoviti Technologies is leading the way in enabling smooth transactions for retailers. The platform provides a flexible response to the market's increasing need for dependable and quick payment processing because it is built to handle both card-based and online transactions.

Innoviti manages an astounding yearly revenue of approximately INR 72,000 crore, thanks to its extensive network that includes over 20,000 businesses and over 2,000 communities. In enterprise retail sectors like lifestyle, healthcare, and food and consumables, where it handles over half of all transactions, the company's technology is especially prevalent.

The company has big hopes for the new funding. In addition to supporting its online company, which has grown by an astounding 4X in the last year, it hopes to propel growth into the mid-market area. It is anticipated that this calculated action would strengthen Innoviti's standing in the FinTech sector and create new opportunities for development and innovation.

Vishal Gupta, partner and head of Bessemer Venture Partners' India division, stated: "Innoviti has demonstrated a unique ability to deliver value-added SaaS through payment channels." We are thrilled to assist them in the next stage of their growth journey in the mid-market and online arenas, having witnessed firsthand how they have been able to maintain and strengthen their relationships in the competitive Indian enterprise retail sector.