Innoviti Technologies has secured $11.4 million in a recent funding round, reinforcing its operations in the payments technology sector. The company, which specializes in solving complex payment challenges, provides modern payment tools designed to help businesses of all sizes enhance their transaction processes and unlock value at the point of sale.
As a licensed RBI online payment aggregator, Innoviti Technologies offers a suite of products including uniPAYNext for enterprise POS machines, Genie for mobile-on-EMI POS solutions, and the Link payment collection app. These tools serve a broad spectrum of merchants, from major Indian retailers such as Reliance Retail, Tanishq, and Shoppers Stop, to smaller local businesses seeking to optimize their payment infrastructure.
With a 20-year history, Innoviti Technologies has established a significant presence in the market. The company processes approximately ₹72,000 crore annually from over 20,000 offline and 3,000 online merchants across more than 2,000 cities. It holds a reported 50% market share in offline enterprise retail for food, grocery, lifestyle, and healthcare segments, and has been granted 11 patents with 16 more in progress. The company is backed by investors including Bessemer Venture Partners, Catamaran Ventures, and the Patni Family Office.
The newly raised capital is intended to support Innoviti Technologies' ongoing growth initiatives and further develop its payment solutions. This investment is expected to enable the company to expand its reach and continue innovating within the dynamic digital payments landscape, aiming to deliver enhanced value to its growing merchant base.
