Manch secures $1.1M pre-Series A round
led by Bharat Inclusion Seed Fund
Manch Technologies will use the new funding to step up its growth internationally and for product development initiatives.
“The zero-coding, rapid implementation platform by Manch ensures that our clients concentrate on the core business, while we bring in the efficiencies by reducing costs and TAT by facilitating a self-service paperless, contactless environment.
"The platform has been very well received by our customers due to the value they have seen in our offerings. The investment from Bharat Inclusion Seed Fund and Pentathlon Ventures further validates our product vision. We believe their experience as first-generation entrepreneurs and expertise in developing complex scalable solutions, will provide Manch the required guidance and enable access to the market and network.”
Bengaluru-based Manch Technologies, a SaaS-based zero-coding digital transformation platform on Tuesday closed a $ 1.1 million pre-Series A round led by Bharat Inclusion Seed Fund with participation from Pentathlon Ventures.
The 2017-founded startup had raised earlier rounds of funding from lead angel investor Asvini Kumar and his associates. Asvini was the co-founder and CEO of NSE listed Thinksoft Global Services Ltd (now Expleo Solutions Ltd).
According to the official statement, the new funding will be put towards stepping up its growth internationally and product development initiatives.
Manch is also hiring more staff in business development and marketing, and plans to significantly increase investment across marketing, sales, and customer support functions as it gears up to scale.
Automating business processes
The platform claims to have over 30 customers in India and abroad who use Manch to automate their business processes such as customer, vendor and merchant engagement, contract execution workflows, workforce management, identity verification, fraud control, and lending marketplace.
The API-rich, zero-coding platform helps achieve rapid implementation, enabling a paperless, contactless, cashless business environment.
The platform has been well received by several marquee brands in India, including Dunzo, NetAmbit, Paytm Money, PharmEasy, Swiggy, and Xiaomi. These companies have realised significant cost savings, optimisation in the deployment of their resources, and, in many instances, growth in their topline. Manch has so far processed more than three million transactions.
Commenting on the investment, Saras Agarwal, Principal at Bharat Inclusion Seed Fund, said,
Partner lifecycle management is an area that is still largely manual, paper-driven and remains a void left by most enterprise applications. Manch offers scalable technology architecture to enable organisations to reduce chaos in dealing with external stakeholders, allowing them to efficiently conduct transactions in a 'cash-less, presence-less, paperless' framework.
Busines Standard Manch Technologies raises $1.1 mn in pre-series A round led by BISF
United news of India Manch Technologies secures $ 1.1 mn Pre-Series A Funding