Total amount raised
₹633 Millions
Latest funding date
06/01/2022
Location
QueueBuster has successfully raised funds through a Series A round, attracting notable investors such as DMI Alternative Investment Fund and Omidyar Network India. The company offers a versatile Point of Sale (POS) solution tailored for various industries, including retail, restaurants, and spas.
Keep reading to explore the intricacies of QueueBuster's fundraising journey and the investors backing this innovative platform.
What Is QueueBuster?
QueueBuster, founded in August 2015, is a versatile business super app based in Noida, Uttar Pradesh, India. The company operates under the legal name DPD Technologies Private Limited and was founded by Varun Tangri.
Specializing in mobile, Point of Sale (POS), SaaS, and software industries, QueueBuster offers a comprehensive POS solution designed to cater to various business types, including retail, restaurants, grocery stores, spas, salons, and electronics stores. The company employs between 101-250 people and is trusted by over 70,000 merchants.
How Much Funding Has QueueBuster Raised?
- Series A
- Amount Raised: $8.16 million
- Date: June 13, 2022
- Lead Investors: Chiratae Ventures, Omidyar Network India, Flourish Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: The funding will be used to drive merchant growth, enhance the product, and scale the distribution networks. The goal is to reach at least 10 million merchants by 2025.
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 in India. They have a strong focus on supporting innovative startups.
- Investment Focus Areas: Technology, healthcare, consumer media, financial services.
- Notable Investments: Myntra, CureFit, Lenskart.
- Omidyar Network India
- Details: Omidyar Network India is an investment firm focused on social impact, founded by eBay founder Pierre Omidyar. They aim to improve the financial health and resilience of small businesses.
- Investment Focus Areas: Financial inclusion, education, emerging tech, governance & citizen engagement.
- Notable Investments: Dailyhunt, 1mg, Pratilipi.
- Flourish Ventures
- Details: Flourish Ventures is a global venture capital firm investing in entrepreneurs whose innovations help people achieve financial health and prosperity. They focus on empowering merchants to benefit from the digital economy.
- Investment Focus Areas: Financial services, fintech, digital banking.
- Notable Investments: Chime, Aspiration, Grab.
- DMI Alternative Investment Fund
- Details: DMI Alternative Investment Fund is part of DMI Finance, focusing on providing debt and equity capital to businesses. They participate in various funding rounds.
- Investment Focus Areas: Financial services, real estate, infrastructure.
- Notable Investments: Not specified.
- Unaprime Investment Advisors
- Details: Unaprime Investment Advisors is an investment advisory firm. They provide exclusive banking and financial advisory services.
- Investment Focus Areas: Not specified.
- Notable Investments: Not specified.
What's Next for QueueBuster?
QueueBuster is poised for significant growth, with opportunities to expand its merchant base, enhance product features, and scale distribution networks. The company aims to onboard 10 million merchants by 2025, leveraging the increasing digitization of business processes and the growing demand for mobile POS solutions.
Future fundraising rounds are likely as QueueBuster continues to grow. The company’s ambitious targets and current investor interest suggest that additional capital will be sought to support expansion and product development. Strategic partnerships or acquisitions may also be on the horizon to enhance technology offerings and market reach.
However, challenges such as competition from established players, maintaining high-quality after-sales support, and ensuring seamless integration across various business types could pose hurdles. Navigating these challenges will be crucial for QueueBuster to achieve its growth objectives and maintain its competitive edge.
Use Clay to Get Funding Data
Sales professionals, leverage Clay’s platform to access comprehensive fundraising data on companies like QueueBuster and gather other critical business insights. Sign up for free to start enhancing your sales strategies today.
