Total amount raised
₹633 Million
Latest funding date
06/01/2022
Location
QueueBuster has successfully raised funding through a Series A round, attracting investment from notable firms such as Chiratae Ventures, Flourish Ventures, and Omidyar Network India. The platform offers a range of solutions including POS systems, mobile apps, and payment solutions, tailored to various industries like retail and restaurants.
Keep reading to explore the intricacies of QueueBuster's fundraising journey and the investors backing this innovative platform.
What Is QueueBuster?
QueueBuster is a private company based in Noida, Uttar Pradesh, India, specializing in SaaS, POS, mobile app, and payment solutions. The company serves various industries, including retail, restaurants, grocery, electronics, and spa & salon.
With an employee count ranging from 101 to 250, QueueBuster offers features like billing & invoicing, inventory management, eStore, digital ledger, CRM & loyalty programs, digital payments, and cloud dashboard management. The company is trusted by over 75,000 merchants and provides enterprise solutions with partnerships in hardware, software, and payment sectors.
How Much Funding Has QueueBuster Raised?
- Series A
- Amount Raised: $8.16 million
- Date: June 2022
- Lead Investors: Chiratae Ventures, Flourish Ventures, Omidyar Network India
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: The funding will be used to drive merchant growth, enhance the product, and scale distribution networks.
Total Amount Raised: $8.16 million. Current Valuation: Not publicly disclosed.
Key Investors
- Chiratae Ventures
- Details: Chiratae Ventures is a venture capital firm that invests in early-stage technology companies. They are one of the lead investors in QueueBuster's Series A funding round.
- Investment Focus Areas: Technology startups, early-stage companies.
- Notable Investments: QueueBuster, technology-driven startups for MSMEs.
- Omidyar Network India
- Details: Omidyar Network India is a social impact investment firm that supports innovative organizations addressing critical social issues. They are a key investor in QueueBuster's Series A funding round.
- Investment Focus Areas: Social impact, financial health, resilience of small businesses.
- Notable Investments: QueueBuster, startups improving financial health and resilience.
- Flourish Ventures
- Details: Flourish Ventures is a global venture capital firm investing in entrepreneurs whose innovations help people achieve financial health and prosperity. They are one of the lead investors in QueueBuster's Series A funding round.
- Investment Focus Areas: Financial health, fintech, prosperity innovations.
- Notable Investments: QueueBuster, fintech startups.
- DMI Alternative Investment Fund
- Details: DMI Alternative Investment Fund provides capital to high-growth companies. They participated in QueueBuster's Series A funding round.
- Investment Focus Areas: High-growth companies, diverse investment opportunities.
- Notable Investments: QueueBuster, various high-growth companies.
- Unaprime Investment Advisors
- Details: Unaprime Investment Advisors is an investment advisory firm participating in high-potential investment opportunities. They were involved in QueueBuster's Series A funding round.
- Investment Focus Areas: High-potential investment opportunities, banking and financial advisory services.
- Notable Investments: QueueBuster, exclusive banking services.
What's Next for QueueBuster?
QueueBuster is poised for significant growth, with plans to expand its merchant base to 10 million by 2025. The company aims to enhance its product offerings and scale its distribution networks, capitalizing on the increasing digitization of business processes among MSMEs. The broader PoS device market in India, expected to grow to Rs 5,660 crore by 2026, presents a substantial opportunity for QueueBuster to capture a significant market share.
Future fundraising rounds are likely as QueueBuster scales its operations to meet ambitious growth targets. The company may also explore strategic partnerships or acquisitions to enhance its product offerings and expand its market reach. However, challenges such as competition from established players and maintaining seamless integration across diverse business types could pose hurdles along the way.
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