TranZact, a Mumbai, Maharashtra-based SME tech startup offering a SaaS-based digital transformation tool for SMEs, raised $7 million in Series A round.
The round was led by San Francisco-based Tribe Capital, with participation from Prime Venture Partners, Gemba Capital, and existing investor Kae Capital.
Several noted angel investors also participated in TranZact include BharatPe's Suhail Sameer, ex Spotify/Tinder executive Sriram Krishnan, Zetwerk co-founders, OfBusiness co-founders, Paytm's Devendra Rane, Climber Capital's Giridhar Malpani, and Locus.sh's Krishna Khandelwal.
The investments will help accelerate TranZact’s product-led growth vision of onboarding over one million SMEs in the next 12 months. The startup will use the fresh capital for product innovations that bring simplicity, leverage evolving technology, and harness the power of data to help SMEs grow better. TranZact also plans to invest in new talent and expand its team across all functions.
Company: TranZact
Raised: $7.0M
Round: Series A
Funding Month: December 2021
Lead Investors: Tribe Capital
Additional Investors: Prime Venture Partners, Gemba Capital, and investor Kae Capital
Company Website: https://letstranzact.com/
Software Category: SaaS-based digital transformation tool
About the Company: Founded by Ritesh Kumar, Sharad Sen Sharma, and Rohan Sen Sharma, TranZact helps Indian SMEs automate and digitize their operations. It also helps SMEs make data-driven decisions for operations by streamlining purchase, inventory, sales, and quotation management. For Indian SME manufacturers, TranZact is a zero-effort digital transformation tool that digitizes your entire business process right from sales inquiry to dispatch. Today, TranZact is empowering over 10,000+ SME owners in becoming an important pillar in the digital India movement.
Source: https://yourstory.com/2021/12/funding-alert-tranzact-sme-tech-startup-saas/amp