An investment round led by Inflection Point Ventures raised USD 1.2 million for BharatNXT, a B2B Fintech startup in the financial technology industry. Spiral Ventures, Keiretsu Forums, and Panthera Peak Capital, three Japanese venture capital firms, also invested in the round.
The funding will be leveraged to develop new products, increase the workforce’s number, and improve the fundamental technological flexibility to support 10 times the existing growth.
To accomplish the best conclusions, the money will also be applied to adopt successful risk management practices and determines and to put into place superior governance frameworks like PCI DSS, ISO 27001, and ISO 9001, as per reported by Indianweb2.
Akshat Birla, Founder & CEO, BharatNXT, says, “We have hit hockey stick growth, crossed Rs. 1500+ Cr in GTV and expect to be doing Rs. 1000+ Cr per month by the end of FY 23”.
Ankur Mittal, Co-Founder and COO, Inflection Point Ventures, says, “Over the last decade, India has witnessed a significant rise in digital transactions across sectors. However, credit card usage has been low among Indian SMEs, with credit utilisation typically ranging around 15% to 20% of allocated limits. Entrepreneurs with good CIBIL scores who already have credit cards with pre-approved limits still don’t have easy access to formal credit to manage their working capital. This is where BharatNXT steps in and provides an avenue via their platform for these entrepreneurs to make business payments like GST, vendor payments, utility payments, rent, and much more. This provides these entrepreneurs with real-time and paperless access to precious credit at low costs, if timed well, while unlocking precious additional payment days based on their credit card cycles.”
With its highly skilled and knowledgeable workforce, BharatNXT is able to draw in and keep the best talent in the business. They have also already built their technology platform to be scalable and to support 10 times the present growth. The firm is well-positioned to investigate innovative business models centered on expansion and financial status in the future, given the data-rich nature of its operations.
BharatNXT was founded by Akshat Birla in 2022. For their B2B transactions, businesses of all kinds should accept credit cards. This offers 45–50 days of extra time for credit. Through Next Level Business Payment experiences, BharatNXT’s vision is to become the go-to partner for SMEs on their path to becoming major companies for their business payments, credit, compliance, and sourcing needs.
About Inflection Point Ventures
Inflection Point Ventures (IPV) helps young business owners by introducing them to a variety of financiers and helping them raise funds financially and experientially. With the help of pooled finance from several members, a new investor may start with a modest investment and yet provide a valuable value proposition for the firm. With access to a network, advice, and mentorship, it is easier for startups to get investment.