Swipez, a B2B SAAS platform which helps digitizing the SMB sector by providing them a platform which enables them to go digital, has secured an undisclosed amount of equity funding from 9Unicorns Accelerator Fund. The round was led by Anicut Angel Fund through Venkatesh Ramarathinam, CEO of Vuram Technology Solutions and it also saw participation from angel investors like Sanjiv Bajaj, Ashvin Chadha and Harsh Khanna.
Swipez provides SMB’s the necessary convenience when it comes to setting up the iron line transactions, managing receivables and payables, generating invoices and bills, consolidating expenses and revenue at one place, following up for receivables, linking their bank accounts for easy digital transactions among other solutions. The platform has GST integration, which helps to generate GST compliant invoices as well as helps SMB’s to file their GST returns through the platform itself.
Vivek Iyer and Shuhaid Lambe, Co-founders, Swipez said “Improving operational efficiency gives businesses improved cash flows and margins. We are seeing clients using Swipez improve their collection efficiencies by over 35%. Automation provides them visibility and efficiency. We are excited about raising this round. It will help us increase our merchant base significantly.”
Speaking on the investment, Dr. ApoorvaRanjan Sharma, Co-founder & Managing Director – 9Unicorns, said, “Lately, enterprises have had to migrate to the digital ecosphere to ensure business continuity. While large organizations in India were already well-prepared for their digital transformation journeys, SMEs have struggled with the shift. Swipez’s B2B SaaS platform comes as a much-needed intervention. We are delighted to support this innovative idea and are confident that its reach and impact will register impressive growth in the coming months.”
“With the Government’s digital initiatives and India being a hub for SMB’s, a tech product that makes this segment effective will certainly be sought after. India is slowly moving towards adopting tech better, digital payments will further bolster adoption of tech. SMB’s are coming to terms with tech driving higher revenues and lowering the cost for them. Swipez seems well grounded in basics, impressive profitable growth. Currently, this segment is prime with a few players and there is large enough space for newer bolder entrants”. Mr. Venkatesh Ramarathinam, Founder- Vuram Technology Solutions and lead investor in Swipez.