Friday, Mar 29 2024 | Time 04:28 Hrs(IST)
image
Business Economy


Ex-Britannia, Ex-Unilever Honcho, Neeraj Chandra Joins Innovitis Board

BENGALURU, July 8, 2020 /PRNewswire/ --
Leading provider of intelligent payment solutions, Innoviti Payment Solutions announced the addition of former Britannia and Unilever senior executive, Mr. Neeraj Chandra, to its Board of Directors as an Independent Director. This position was created as a part of the structuring carried out during the recent fund raise from FMO and Bessemer.
An alumnus of IIM Ahmedabad and IIT Kanpur, Mr. Neeraj Chandra brings over 30 years of experience in diverse sales, marketing & business roles with exposure to 25+ countries in Asia & Middle East. He was previously associated with Emami Limited as the CEO of their Consumer Care Division. Prior to that he held a variety of leadership roles including VP & COO at Britannia and Regional Brand Director for Asia at Unilever.
Mr. Neeraj Chandra's appointment is in-line with Innoviti's aggressive plans of a) building exceptional, large new market opportunities through vertical focused products that connect to the customers in truly innovative ways, and b) building specialized market building & distribution models to rapidly scale up these markets while delivering high quality service.
Innoviti is designing intelligent payment solutions that help every merchant extract the full power of digital payments, not possible with stand-alone terminals and QR stickers. Architected as a network of networks, Innoviti is using data intelligence to bring together merchants with brand and bank networks, helping them connect, collaborate, and create new and unique offers for their common customers. Networks use the power of modern technology to intelligently target customers, create superior offers, and grow their sales faster with unmatched efficiency.
Processing over 6.5B$ of annualized offline merchant payment volume (~5% of India's offline merchant volume, based on RBI data), Innoviti is transforming digital payments at scale. The company leads monthly terminal throughput at 7000$ per terminal, 2X of India's average of all other payment providers (RBI data). The use of technology to relentlessly drive reliability and automate processes has further fuelled gross margins, making Innoviti the most capital-efficient company in this space (based on publicly available data).
Innoviti is backed by marquee investors including Bessemer Venture Partners, USA, SBI Venture Capital, Singapore, FMO, Netherlands, and Catamaran, India. Series C funding was led by FMO and Bessemer.
Innoviti Logo
Quotes:
"We believe designing great products requires an obsession with differentiation and excellence. In a complex disruptively changing world of opportunities, Neeraj's guidance will help sharpen delivery to our vision of creating great payment products.
Our customer centricity and focus on delivering sustainable value has already helped us become the most capital efficient company in this space. A stronger Board will help prepare us for the next exciting phase of our journey as we leap and lead our market," said Mr. Rajeev Agrawal, CEO, Innoviti.
About Innoviti Payment Solutions Pvt. Ltd.
Innoviti Payment Solutions Pvt. Ltd. has been a pioneer in the use of technology to add intelligence to payment transactions, helping merchants, banks and brands utilize the full power of digital payments to drive business growth. The company processes over 6.5B$ of offline merchant payments (~5% of India's offline merchant payments volume as per RBI data), from over 1000+ cities with a volume throughput per installation that is 2X of the country's average. Catamaran Ventures, SBI Capital, Bessemer Ventures and FMO are investors in the company. The company has several patents filed for with two awarded. Innoviti is the winner of Mastercard's Innovation Wizards Award for its instant onboarding innovation, and Reliance's Most Promising Growth Consumer Finance Award for its #KuchBhiOnEMI innovation in 2019.
For more information, please visit - http://www.innoviti.com
Media Contact:
Sarath Chandra Nerella
Associate Vice President - Marketing Communications
Innoviti Payment Solutions Pvt. Ltd.
[email protected]
Logo: https://mma.prnewswire.com/media/1041869/Innoviti_Logo.jpg
(Disclaimer--Features may vary depending on the regions; subject to change without notice.)
More News
India's core sector output rises to three-month high of 6 7 pc in February

India's core sector output rises to three-month high of 6 7 pc in February

28 Mar 2024 | 7:51 PM

New Delhi, Mar 28 (UNI) Driven primarily by coal, cement and crude oil production, India's core sector comprising of eight key infrastructure components grew 6.7% year-on-year in February 2024, as per data released by Ministry of Commerce and Industry on Thursday.

see more..

Honda Motorcycle & Scooter India achieves historic 6 cr domestic sales milestone

28 Mar 2024 | 7:19 PM

Mumbai, Mar 28 (UNI) Honda Motorcycle & Scooter India (HMSI) announced on Thursday that it has accomplished a historic achievement of 6 crore domestic sales in India. Honda ventured into the Indian market with its first two-wheeler, the Activa, in 2001.

see more..

28 Mar 2024 | 5:28 PM

UNI NK AKS.

see more..
Luminous enters solar panel mfg; 250 MW facility launched with initial investment of Rs 120 cr

Luminous enters solar panel mfg; 250 MW facility launched with initial investment of Rs 120 cr

28 Mar 2024 | 5:16 PM

Rudrapur, Mar 28 (UNI) From power Back-up solutions to Batteries and Solar applications, Luminous Power Technologies on Thursday announced the launch of its state-of-the-art solar panel manufacturing facility here.

see more..

Kottayam-Kochi Rubber Market rates

28 Mar 2024 | 5:04 PM

Kottayam, Mar 28 (UNI) Following were the Rubber Market rates announced by the Rubber Board here on Thursday per quintal.

see more..
image