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BizPay Raises Undisclosed Amount In Seed Round Led By Inflection Point Ventures

Bizpay will spend around 60 per cent of this funding on marketing and 40 per cent on product development and other business-related purposes

BizPay Raises Undisclosed Amount In Seed Round Led By Inflection Point Ventures
POSTED ON August 17, 2023 3:57 PM

Bizpay has raised an undisclosed amount in a seed round led by Inflection Point Ventures. The plan is to use 20 per cent of the funds for product development, 60 per cent for marketing, and 20 per cent for other purposes. 

The technology platform that solves cash flow challenges, offers a prepaid card solution integrated with advanced SaaS software, enabling corporates to streamline expense management, gain insights through analytics, and enforce policy compliance.  

Vikram Ramasubramanian, partner of Inflection Point Ventures, said, “The integration of prepaid cards and advanced SaaS software presents a transformative solution for businesses to streamline expenses, gain actionable insights, and ensure compliance. Inflection Point Ventures is excited to support BizPay as they look to unlock efficient and insightful corporate expense management.” 

BizPay operates across India and now aims to broaden its reach and extend its expense management solutions to a global audience. It plans to enter the markets of the Middle East and North Africa, the company said in a release. 

"Over my 13 years in auditing and accounting, I repeatedly observed that employee expenses outside the office were a significant source of errors and losses. Delayed or missing reimbursements caused frustration for employees, while lack of visibility and control led to overspending. To address these pains and empower businesses, we founded BizPay. By integrating a comprehensive software suite with corporate cards, digital wallets, and travel management solutions," said Mikdad Saleem Merchant, founder of Bizpay, 

Founded in 2021, the company is an automated, bank-integrated, and mobile-first expense management software suite of corporate prepaid cards, apps, and services. 

Inflection Point Ventures (IPV) is an angel investing platform that supports new-age entrepreneurs by providing them with monetary and experiential capital and connecting them with a diverse group of investors. It launched a $50 million CAT 2 AIF Physis Capital to invest in pre-Series A to Series B growth-stage start-ups. 

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