Mobile POS startup QueueBuster has raised Rs 63.3 crore ( around $8.16 million) in its Series A funding round from Chiratae Ventures, Omidyar Network India, and Flourish Ventures.
DMI Alternative Investment Fund and Unaprime Investment Advisors also participated in this maiden institutional funding round.
With this round, the company will focus on merchant development, product enhancement and expansion of its distribution networks.
QueueBuster was founded in 2016 by Varun Tangri, It is a full-stack mobile POS application to manage billing, inventory, account (daily ledger), online shop, and customer and loyalty programs from a single application.
The SaaS-based platform is designed for a wide range of automobiles and other businesses, from grocery and retail to restaurants and fashion and apparel.
“Merchants in today’s time are overwhelmed by a plethora of stand-alone applications for every small or big requirement of theirs. Unfortunately, none of those applications provide them with a holistic set of features to manage their end-to-end operations effectively. Merchants are forced to use multiple applications which decreases their efficiency even further”, said, Varun Tangri, founder of QueueBuster.
The startup claims to have over 20,000 merchants on its platform across industries ranging from neighborhood kirana stores to HUL, Tata and ITC.
The platform has registered over 12 million invoices worth over Rs 1,000 crore on its app since January 2021.
“QueueBuster team has over 8 years of experience in the Android POS industry. They have developed a very comprehensive solution for MSMEs in terms of features, user experience and cost-effectiveness. Their resolve to provide the best after-sales support to the MSMEs will be a cornerstone to succeed in the MSME market”, said, TCM Sundaram, Founder and Vice Chairman, Chiratae Ventures.
“Aligning with our vision to improve the financial health and resilience of MSMEs, QueueBuster provides affordable technology solutions to small merchants through partnerships with banks and payment companies. In a rapidly digitising world, QueueBuster is helping these small merchants digitise business-critical processes thereby increasing the efficiency of their day-to-day operations”, said, Amol Warange, Director, Omidyar Network India.
“Our investment in QueueBuster aligns with our investment thesis to empower merchants of all scales and sizes to benefit from the fast growing digital economy,” said, Harsh Gupta, an investment associate at Flourish Ventures.
QueueBuster™ is a powerful Mobile POS Solution for all kinds of businesses.
From large format retail stores to small carts and kiosks, QueueBuster™ has everything a customer needs to make their business run like a breeze. Manage products, inventory, loyalty and CRM from one place, anytime, anywhere!