Wednesday, Dec 6 2023 | Time 01:17 Hrs(IST)
Business Economy

IIIT-H Seed Fund invests in Paymatrix

Hyderabad, Jan 24 (UNI) Hyderabad-based end-to-end digital rent management platform Paymatrix becomes the first start-up to be selected and supported by IIIT-H Seed Fund.
Paymatrix enables tenant profiling, rental documentation, rent payment management and risk mitigation for thousands of tenants, landlords and property managers across India.
Technology has brought with it efficiency and transparency into several businesses through innovative products and solutions. One such proposition in the domain of Property Rental management is Paymatrix , which streamlines rent and deposit payments and collections by facilitating credit.

IIIT-H Seed Fund’s focus is to nurture seed stage, early stage startups, and innovative technologies and support them with mentoring and coaching, Business guidance, market access, and any other growth stage support. "As mentors and key players in the startup ecosystem, we found that the lack of resources, mentoring, market reach and early stage funding seriously impedes and limits many startup founders with great ideas. As a group, we wanted to address this through the mentor intensive fund we launched along with IIIT Hyderabad Foundation.
IIIT-H Seed Fund is keen to invest in startups improving efficiencies and democratizing the financial systems" IIIT-H Seed Fund Co Founder and Designated Partner Viiveck Verma said.

Speaking on the investment, Mukesh Chandra Anchuri, CEO and Co-founder of Paymatrix, said,“We are delighted to have a strategic investor such as IIIT-H seed fund on-board and are sure to derive key insights from them in our future product development, given their great knowledge of technology-intensive businesses”

The start-up, established in November 2016 has since grown its customer presence into 14+ cities in India and has 4000+ registered tenants and landlords on its platform with more than Rs 12 crore of rent processed till date. Paymatrix plans to strengthen its product proposition into complete property rental management for both individuals and businesses, a statement here said on Wednesday.
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