Total amount raised
$1.2 Millions
Latest funding date
06/01/2023
Location
BharatNXT has successfully raised funds through a Seed round, attracting notable investors such as Inflection Point Ventures and Spiral Ventures. The platform offers a range of services including credit card payments for business expenses, instant access to capital, and rewards and cashback.
Keep reading to explore the intricacies of BharatNXT's fundraising journey and the investors backing this innovative B2B fintech platform.
What Is BharatNXT?
BharatNXT, founded in 2022, is a B2B fintech platform based in Ghatkopar, Maharashtra, India. The company enables businesses to use their existing credit cards for various payments, offering up to 50 days of interest-free credit and instant access to unutilized credit card limits.
While the exact names of the founders are not explicitly mentioned, BharatNXT has a team of 11-50 employees. The platform also provides rewards and cashback, ensuring secure financial transactions with PCI-DSS and SSL technology.
With its innovative approach, BharatNXT aims to become the go-to partner for SMEs for their business payments, credit, compliance, and sourcing needs.
How Much Funding Has BharatNXT Raised?
- Seed Round
- Amount Raised: $1.2M
- Date: June 2023
- Lead Investors: Inflection Point Ventures, Spiral Ventures, Keiretsu Forums, Panthera Peak Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: The funds will be used for product development, expanding the team size by four times, and enhancing the core technology's scalability to support ten times the current growth.
Total Amount Raised: $1.2M. Current Valuation: Not publicly disclosed.
Key Investors
The major investors in BharatNXT are as follows:
- Inflection Point Ventures (IPV)
- Details: Inflection Point Ventures is an angel investing platform with over 7400 CXOs, HNIs, and professionals. They support new-age entrepreneurs with both monetary and experiential capital.
- Investment Focus Areas: Pre-Series A to Series B growth-stage startups.
- Notable Investments: Not specified in the sources.
- Spiral Ventures
- Details: Spiral Ventures is a Japanese venture capital firm. They have been involved in various investments across different sectors.
- Investment Focus Areas: Not specified in the sources.
- Notable Investments: Not specified in the sources.
- Keiretsu Forums
- Details: Keiretsu Forums is a global investment community of accredited private equity angel investors, venture capitalists, and corporate/institutional investors.
- Investment Focus Areas: Early-stage companies across various sectors.
- Notable Investments: Not specified in the sources.
- Panthera Peak Capital
- Details: Panthera Peak Capital is a Japanese venture capital firm. They have participated in various investment rounds.
- Investment Focus Areas: Not specified in the sources.
- Notable Investments: Not specified in the sources.
Note: The information requested about notable investments and specific focus areas for some investors was not found in the provided sources.
What's Next for BharatNXT?
BharatNXT stands at the cusp of a significant opportunity, with the potential to revolutionize B2B transactions for SMEs. The platform's ability to enable credit card payments for business expenses opens up a market projected to reach $200-300 billion in the next few years. With $1.2 million in seed funding, BharatNXT plans to enhance its technology and expand its team, setting the stage for substantial growth.
Future fundraising opportunities are promising, especially with Inflection Point Ventures' $50 million CAT 2 AIF Physis Capital targeting growth-stage startups. This could provide BharatNXT with the necessary capital to scale further. However, challenges such as managing rapid team expansion and maintaining transaction accuracy loom large. Successfully navigating these hurdles will be crucial for sustaining their growth trajectory.
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