Innoviti IPO Upcoming
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About Innoviti
Founded in 2002, Innoviti is a fintech company specialising in payments processing, credit distribution, and payments management software solutions. Serving industries such as retail, mobile, lifestyle, and more, Innoviti offers products like uniPAY for unified payment management and quickEMI for installment payments on credit cards.
Innoviti Valuation
Innoviti is valued at $230 million based on the latest funding rounds. The company is reportedly considering a new funding round that could value it at around $350 million.
Operations & Performance of Innoviti
Innoviti reported a 67% growth in revenue and a 58% reduction in EBITDA loss over recent quarters. As of now, the company’s annualised run rate (ARR) is INR 160 Cr, with an annualised EBITDA loss of less than INR 8 Cr. Its sales negotiation software, Innoviti Genie, grew at an annualised rate of 192%, while its payment software Innoviti UniPAY achieved a 15% annual growth, with 28% EBITDA. The company processes over INR 80,000 Cr of purchase volume annually from more than 2,000 Indian cities and over 20,000 merchants.
Future Plans of Innoviti
In March 2024, the company received an online payment aggregator license from the RBI, and it closed its Series E funding round in August 2024 at INR 70 Cr. With over $100 million in funding to date, Innoviti reported FY23 operational revenue of INR 110.2 Cr, with a loss of INR 86.56 Cr.