Aug 17 2023, Maharashtra: Bizpay has raised an undisclosed amount in a Seed Round led by Inflection Point Ventures. The company plans to use 20% of the funds for product development, 60% for marketing, and 20% for other purposes.
Bizpay offers a prepaid card solution integrated with advanced SaaS software, enabling corporates to streamline expense management, gain insights through analytics, and enforce policy compliance.
Vikram Ramasubramanian, Partner, Inflection Point Ventures, says, “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.”
Currently operating across India, Bizpay has established a robust presence and has plans to enter Middle East and North Africa markets. The company is poised to broaden its reach and extend its innovative expense management solutions to a global audience.
Mikdad Saleem Merchant, Founder, Bizpay says, “Over my 13+ years in auditing and accounting, I repeatedly observed that 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.”
Bizpay stands out in the market with its highly experienced team, strong tech understanding, and a differentiated product offering. Beyond travel and expense management, Bizpay’s versatile platform enables corporate financial planning and can be used for various expense types, making it a comprehensive and innovative solution for businesses seeking efficient expense management.
About Bizpay
BizPay is an automated, bank-integrated, and mobile-first expense management software suite of corporate prepaid cards, apps, and services founded on 11th September 2021 by Mr, Mikdad Merchant.
About Inflection Point Ventures & Physis Capital
Inflection Point Ventures (IPV) is an angel investing platform with over 8600 CXOs, HNIs, and Professionals to together invest in startups. The firm supports new-age entrepreneurs by providing them with monetary & experiential capital and connecting them with a diverse group of investors. IPV has announced the launch of a $50 million CAT 2 AIF Physis Capital to invest in pre-Series A to Series B growth-stage start-ups.
- BizPay is a mobile-first expense management software suite, offering automated corporate prepaid cards, apps, and services to help businesses stay within budget, ensure policy compliance, and provide real-time spending visibility for managers.
- The funds will be utilized as follows: 20% for product development, 60% for marketing, and 20% for other purposes.
- Inflection Point Ventures (IPV) has so far invested over INR 550 Cr across 170+ deals
