Bengaluru: Murthy’s Catamaran invests in payment solutions start-up

Bengaluru, July 22 (IANS) Infosys co-founder N.R. Narayana Murthy’s Catamaran Ventures has invested an unspecified amount in city-based start-up Innoviti Payment Solutions Ltd., it was announced on Wednesday.

Along with Catamaran Ventures, Canada-based New India Investment Corporation, an arm of Gravitas Financial Inc, was involved in the start-up’s funding.

In the first round of funding in January 2014, Innoviti raised Rs.10 crore through debt and equity from domestic and overseas angel investors, including watch maker Titan company.

“We will use the latest fund to expand our business of real-time distribution of credit to small and medium enterprises (SMEs), whose capital requirement is still unmet,” the start-up said in a statement.

The seven-year-old payments solutions gives Rs.400-crore of loans to over 10,000 SMEs in 20 cities across the country through multiple vendors annually.

“We will use the fresh fund also for marketing, product development and scaling-up our payments infrastructure,” Innoviti chief executive Rajeev Agrawal said.


Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of or any employee thereof. is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here