Bangalore-based software platform Manch Technologies said Tuesday that it has closed $ 1.1 million as part of its pre-series A round led by the Bharat Inclusion Seed Fund. The round also featured the participation of Pentathlon Ventures.
The funds will be used to intensify global growth and product development initiatives, the company said. The startup will also hire more business development and marketing staff and plans to significantly increase investment in marketing, sales and customer service functions as it prepares to scale.
Four-year-old Manch provides a software-as-a-service (SaaS) platform that focuses on digitizing businesses’ interactions with their external stakeholders.
“Manch’s zero-coding and rapid-deployment platform ensures that our customers focus on the core business, while we deliver efficiencies by reducing costs by facilitating a contactless and paperless self-service environment. The platform has been very well received. by our clients because of the value they have seen in our offerings. The investment from the Bharat Inclusion Seed Fund and Pentathlon Ventures further validates our product vision, “said Manch CEO and Founder Suresh Anantpurkar.
Manch had previously raised funds from senior angel investor and Thinksoft co-founder Asvini Kumar, along with others.
Currently, the startup has more than 30 clients in India and abroad, who leverage the platform to automate their business processes, such as engagement with customers, suppliers and merchants, contract execution workflows, workforce management. , identity verification, fraud control and loan market.
The API-rich zero-coding platform helps achieve rapid deployment that enables a paperless, contactless and cashless business environment, the company said.
The platform currently works with canopy brands such as Dunzo, NetAmbit, Paytm Money, PharmEasy, Swiggy, Xiaomi.
“Partner lifecycle management is an area that remains largely manual, paper-driven, and remains a void left by most business applications. The Manch Platform offers a scalable technology architecture to enable Organizations reduce chaos in dealing with external stakeholders, enabling them to transact efficiently in a “cashless, no-presence, no-paper” framework, said Saras Agarwal, director of the Bharat Inclusion Seed Fund.