Manch Technologies raises $1.1 mn in pre-series A round led by BISF
Bengaluru-based Manch Technologies, a SaaS-based zero-coding digital transformation platform, has raised a $1.1 million in a pre-series A round led by Bharat Inclusion Seed Fund with participation (BISF) from Pentathlon Ventures.
The company will use the new funding for 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, said the company.
“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,” said CEO and Founder Suresh Anantpurkar.
Over 30 customers in India and abroad 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 zero-coding platform helps achieve rapid implementation enabling a paperless, contactless, cashless business environment.
The platform is being used by several marquee brands in India including Dunzo, NetAmbit, Paytm Money, PharmEasy, Swiggy and Xiaomi. Manch has so far processed more than 3 million transactions.
Saras Agarwal, principal at Bharat Inclusion Seed Fund, added, “Partner life-cycle management is an area that is still largely manual, paper driven and remains a void left by most enterprise applications. Manch offers a scalable technology architecture to enable organisations to reduce chaos in dealing with the external stakeholders, allowing them to efficiently conduct transactions in a “cash-less, presence-less, paperless” framework.”
Shashank Deshpande, managing partner at Pentathlon Ventures, said, “Disruptive technology developed by Manch has improved outcomes for the enterprises, enterprises are using Manch across multiple business units, hence creating stickiness.”
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