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Business EconomyPosted at: Sep 28 2021 12:07PM


Manch Technologies secures $ 1.1 mn pre-series A funding

Bengaluru, Sep 28 (UNI) Bengaluru-based Manch Technologies, a SaaS-Based Zero-Coding Digital Transformation Platform, has closed a $ 1.1 million pre-series A round led by Bharat Inclusion Seed Fund with participation from Pentathlon Ventures.
"The investment from Bharat Inclusion Seed Fund and Pentathlon Ventures further validates our product vision. We believe their experience as first-generation entrepreneurs and expertise in developing complex scalable solutions, will provide Manch the required guidance and enable access to the market and network.” Manch CEO and Founder Suresh Anantpurkar said.
The 2017-founded startup had raised earlier rounds of funding from Lead angel investor Asvini Kumar and his associates.
Asvini was the co-founder and CEO of NSE listed Thinksoft Global Services Ltd (now Expleo Solutions Ltd).
The new funding will be put towards stepping up its growth internationally and product development initiatives.
Manch is also hiring more staff in business development and marketing, and plans to significantly increase investment across marketing, sales and customer support functions as it gears up to scale.
"We are really excited to partner with Suresh and the team. Manch allows any organisation to bring in efficiency in various areas of their dealing with the partners," Bharat Inclusion Seed Fund Principal Saras Agarwal said.
Manch is a high-impact SaaS platform focused on digitalizing interactions of enterprises with their external stakeholders, an area largely disorganized and not effectively addressed by the industry.
The innovatively architected feature-rich platform disrupts the enterprise applications landscape by creating its own niche category.
Over 30 customers in India and abroad use Manch to automate their business processes such as customer, vendor and merchant engagement, contract execution workflows, workforce management, identity verification, fraud control, and lending marketplace.
The API rich, Zero-coding platform helps achieve rapid implementation enabling a paperless, contactless, cashless business environment.
The platform has been well received by several marquee brands in India including Dunzo, NetAmbit, Paytm Money, PharmEasy, Swiggy, Xiaomi, these customers have realized significant cost savings, optimization in the deployment of their resources and in many instances growth in their topline. Manch has so far processed more than 3 million transactions.
"Given our own background in B2B technology, Manch is exactly the kind of company Pentathlon would like to partner with. Disruptive technology developed by Manch has improved outcomes for the enterprises, enterprises are using Manch across multiple business units, hence creating stickiness," Managing Partner at Pentathlon Ventures Shashank Deshpande said.
The startup's revenue grew multifold over the past one year. During Covid, Manch worked with the businesses to streamline their approach to partner management activities.
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