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Success Stories

Sucess Stories

Payments Startup Phi Commerce Raises $4 Mn In Series A Round Led By BEENEXT

Payments Startup Phi Commerce Raises $4 Mn In Series A Round Led By BEENEXT

Founded in 2015, Phi Commerce has created PayPhi, an omnichannel payment processing platform which processes digital payments at doorstep, online and in-store

Founded in 2015, Phi Commerce has created PayPhi, an omnichannel payment processing platform which processes digital payments at doorstep, online and in-store PayPhi processes payments across a range of form factors such as cards, net-banking, UPI, Aadhaar, BharatQR, wallets, NEFT, RTGS, and NACH Phi Commerce would utilise the funds to bolster its product offering, expand in existing markets and enter new geographies, as per a statement.
Phi Commerce is a omnichannel, API-first platform – PayPhi addressing payments collection, processing & distribution requirements across online, in-store & on-the-go channels. PayPhi enables use-case specific payments flows, subscription billing, API based backend integration, frictionless digital collections at doorstep, flexible EMI payments, split settlements, last mile notifications, automated reconciliation, and value-added services.

Impact Story: A pune based Payments startup is processing more than 100 million monthly transactions and has presence across Tier 1 to Tier 3. Phi Commerce is working with likes of NPCI, HP gas etc on digitising various payments use case for them.

Phi Commerce one of the winner from Maharashtra Startup Week 2019 has previously enagaged with MahaTransco, Fisheries Dept., Maharashtra Police, and IUMS for a offering a possible payments solution to the respective department. Phi Commerce has raised $4.8 Million from BEENEXT venture and Yatra Angel Network in Jan 2021.

Jaikisan has raised $5.4 Million

Jaikisan has raised $5.4 Million from some of the renowned venture capital firms like Blume Venture, NAB Ventures(NABARD Enterprise), Etc.

JaiKisan is an Agriculture Lending marketplace for input financing, equipment financing, invoice Financing etc. They have raised $5.4 Million from some of the renowned venture capital firms like Blume Venture, NAB Ventures(NABARD Enterprise), Etc. Jai Kisan has worked with farmers and farmer networks containing in excess of 20k farmers across Maharashtra, since inception. This impact has been delivered across various aspects of the value chain, viz., pre-harvest (inputs and equipment) as well as post-harvest (invoice financing/ supply chain financing) as well as Agri allied activities. In this period, Jai Kisan has worked with over 75 dairies of one of Maharashtra's largest private dairy networks, deployed capital through major manufacturers in the space of manufacturing agricultural inputs and equipment, and has provided supply chain financing to a network of farmers across multiple crops, ranging from maize to cotton to grapes. In addition, Jai Kisan has also worked with many recognized FPOs in Maharashtra and has enabled capacity building by providing access to finance for storage facilities (cold storage), setting up custom hiring centers as well as establishing market linkages with top Agri startups and buyers in the country, thereby building the ecosystem overall through its work.
How Jaikisan delivers value. Eg.: For Equipment Financing: a farmer can onboard themselves with minimum documentation, avail a loan for the equipment from one of the listed lending partners on the platfrom and then buy that equipment from the same jaikisan platform. hence by mapping the entire value chain jaikisan can extend these loans at lower cost of credit, thus benefitting the farmer


WHRRL has been onboarded by Maharashtra state cooperative bank

WHRRL has been onboarded by Maharashtra state cooperative bank on its platform

Whrrl is a blockchain driven platform that extends loans to farmer against their warehouse storage receipt. The startup is using technology like Blockchain and IOT to better track and deliver these loans to end users Impact Story: Blockchain Pilot with MSWC: To increase the trust and transparency in the warehouse receipt financing market and make it work for farmers, The Maharashtra state warehousing corporation(MSWC) ran a pilot with WHRRL (Blockchain based Warehouse Receipt Financing Startup ) across 16 warehouses in Pune, Ahemdnagar, Wai and Washim. Post the successful pilot, WHRRL has been onboarded by Maharashtra state cooperative bank on its platform, and the bank has committed Rs. 2000 CR of corpus for lending through Warehouse receipt finance


CityCash and MSRTC have joined hands to develop and deliver Open loop multi-Model transit payment system

Prepaid card based payment solution which can be used with SoftPOS(A software based POS running on SmartPhone) Impact Story: CityCash and MSRTC have joined hands to develop and deliver Open loop multi-Model transit payment system for various transit use case in the state of Maharashtra. Within 6 months of rolling out , 4 lakh citizens have been onboarded on the network with a target of reaching to 2Mn users by the end of 2021. Citycash has raised $1 Million from Fino Payments Bank, ICICI and other angels


ImpactGuru raises $4.5 Million from Apollo Hospitals Enterprise, Venture Catalyst and other Angels

Impact guru is a Crowdfunding platform for medical purposes. Patients/Friends and families of Patient can raise fund to aid their critical surgeries and treatment for cancer, organ transplants, etc. We offer seamless integration with social media to share campaigns created on the Impact guru Platform and a very robust payment technology to pay towards the campaigns. Impact Story: ImpactGuru has so far mobilised $200 million/Rs 1,500 crore through its platform and global partners, since inception. Over 10 lakh donors from 165 other countries have already donated for various causes with an average 1.5 donations every one minute on the platform. Its team of 100+ people is based in Mumbai. ImpactGuru.com raised over Rs 15 crore from over 800 COVID-19 related fundraisers to support daily wagers, elderly, healthcare workers, animals, all impacted due to the crisis ImpactGuru is also working with Mahrashtra State CM Relief Fund as a crowdfunding platform. ImpactGuru has also raised $4.5 Million from Apollo Hospitals Enterprise, Venture Catalyst and other Angels


Credible exploring engagement with Agriculture department for SMART program

Credible (Agzaken Risk Management OPC Pvt Ltd) has developed AI based Crop Price prediction tool to help Financial institutions like insurance companies etc manage their risk better. Impact Story: Since receiving Grants Credible has onboarded 5 corporate Clients and their remote sensing models are currently being used by crop insurance companies in their operations. The price forecasting models have been used to create a price risk management product for FPOs and agribusiness Credible is also engaging with SMART program under Agriculture department to explore synergies around their crop price prediction technology. Credible has raised a seed fund in 2019 from Gastrotope and few angels


Mintoak has raised $2 Million in a seed round from Pravega Ventures

The Mintoak platform offers a single view across all forms of payments to provide reconciled statements to the merchant. Mintoak offers “adjacent services” that include real-time analytics for business owners, customer recognition at point-of-sale, feedback capture mechanisms and tools for rewards and marketing communications. Impact Story: Since receiving Grant from MFH, Mintoak has already signed up with five banks in a short timeframe, including one of the largest banks in India and a leading bank in the middle-east and, is engaged in various conversations with banks in South and South East Asia. Mintoak has raised $2 Million in a seed round from Pravega Ventures.


Pentation onboardeds more than 5 enterprise users and 100+ end customers for its SAAS Product

As an Insurtech, Pentation Analytics enables insurers and intermediaries maximize value of and for their customers via proprietary insurance-specific platform - Insurance Analytics Suite Insurance Analytics Suite Uses structured policy transaction data and unstructured customer interaction data and generates policy-level scores that indicate the level of renewal and cross-sell propensity they possess. Ensemble scoring models enable insurers to get real-time insights about different policies. Impact Story: Since receiving Grant from MFH, Pentation has onboarded more than 5 enterprise users and 100+ end customers for its SAAS Product. Startup has made significant progress in the product suite development and have scaled their bussiness operations to Middle east by setting up an office in Abu Dhabi for Mena Region. Pentation Analytics got various intorductions to Middle east ecosystem through MFH when they were planning to set up in the region Pentation analytics was also shortlisted for Hartford Accelerator