Prepaid card Solution BizPay raises Undisclosed Amount in a Seed Round led by Inflection Point Ventures

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Prepaid card Solution BizPay raises Undisclosed Amount in a Seed Round led by Inflection Point Ventures
Prepaid card Solution BizPay raises Undisclosed Amount in a Seed Round led by Inflection Point Ventures

BizPay is a mobile-first expense management software suite offering automated corporate prepaid cards, apps, and services to help businesses stay within budget, ensure policy compliance, and provide real-time spending visibility for managers

The funds will be utilised as follows: 20% for product development, 60% for marketing, and 20% for other purposes

Inflection Point Ventures (IPV) has so far invested over INR 550 crore across 170+ deals

August 17, 2023, Maharashtra: Bizpay has raised an undisclosed amount in a Seed Round led by Inflection Point Ventures. The company plans to use 20% of the funds for product development, 60% for marketing, and 20% for other purposes.

Bizpay offers a prepaid card solution integrated with advanced SaaS software, enabling corporates to streamline expense management, gain insights through analytics, and enforce policy compliance.

Vikram Ramasubramanian, Partner, Inflection Point Ventures, says, “We are thrilled to be part of BizPay’s journey towards reshaping the corporate expense management landscape in India. The innovative integration of prepaid cards and advanced SaaS software presents a transformative solution for businesses to streamline expenses, gain actionable insights, and ensure compliance. Inflection Point Ventures is excited to support BizPay as they look to unlock efficient and insightful corporate expense management.”

Currently operating across India, Bizpay has established a robust presence and has plans to enter the Middle East and North Africa markets. The company is poised to broaden its reach and extend its innovative expense management solutions to a global audience.

Mikdad Saleem Merchant Founder Bizpay

Mikdad Saleem Merchant, Founder, Bizpay, says, “Over my 13+ years in auditing and accounting, I repeatedly observed that employee expenses outside the office were a significant source of errors and losses. Delayed or missing reimbursements caused frustration for employees, while a lack of visibility and control led to overspending. To address these pains and empower businesses, we founded BizPay. By integrating a comprehensive software suite with corporate cards, digital wallets, and a travel management solution, BizPay emerged as the solution to track spends, curb waste, and drive substantial savings for businesses of all sizes.”

Bizpay stands out in the market with its highly experienced team, strong tech understanding, and differentiated product offering. Beyond travel and expense management, Bizpay’s versatile platform enables corporate financial planning and can be used for various expense types, making it a comprehensive and innovative solution for businesses seeking efficient expense management.

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