Bizpay, a mobile-first expense management software suite of corporate prepaid cards has secured an undisclosed sum in a Seed investment round that was headed by Inflection Point Ventures.
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20% of the Funding will go towards product development, 60% towards marketing, and 20% will be used for other purposes, according to the business, as reported by Entrepreneur.com.
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“The 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 Solution, BizPay emerged as the solution to track spends, curb wastage, and drive substantial savings for businesses of all sizes,” said Mikdad Saleem Merchant, founder, Bizpay.
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The Middle East and North Africa are two markets that Bizpay intends to enter. According to an official release, the business is prepared to increase its clientele and offer its cutting-edge expenditure management services to a broad clientele.
“We are thrilled to be part of BizPay’s journey towards reshaping the corporate expense management landscape in India. The innovative 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,” said Vikram Ramasubramanian, partner, Inflection Point Ventures.
About Bizpay
An automated, bank-integrated, and mobile-first suite of business prepaid cards, apps, and services called BizPay was established in 2021. Using corporate prepaid cards and employee wallets, an integrated and mobile-first expense management system, a travel booking portal for flights, hotels, buses, and other travel-related services, as well as an e-Commerce portal for office supplies, BizPay is a FinTech and SaaS company that assists businesses.
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