[Funding alert] Fintech startup Mera Cashier raises $250K seed round led by Startup Buddy’s founders
Noida-based fintech startup Mera Cashier has raised $250,000 in seed funding led by Startup Buddy’s Co-founders Amit Singal and Manish Aggarwal. Other angel investors who participated in the round include Vinod Abrol (Head Private Investments at SAR group, ex Jabong CFO) and Sanjeev Dhull (CEO, Radiate Digital Services).
Mera Cashier said it will be using these funds to build more features and acquire customers.
Amit Singal, Co-founder, Startup Buddy, said,
“MSME Business is growing rapidly in India and business owners are now taking initiative to shift to technology, so this product has a huge market.”
This month, Amit also participated in a $160,000 seed funding round of a Pune-based enterprise productivity startup, Keito.
Founded in 2019 by Suneel Kumar, Sucharita Reddy, Gaurav Tomar and Akhilesh Nigam, Mera Cashier is an Android app meant for small and micro businessmen to manage their credit transactions digitally over their phone instead of using manual methods like bahi-khatas, registers, and notebooks. The app includes the basic transaction management features like adding, managing customers and their transactions, and also has some enhanced features that provide an opportunity to micro businessmen to use their data to grow and manage their business efficiently.
The app claims to have 170,000 downloads and 140,000 registered businesses.
Suneel Kumar, Co-founder, Mera Cashier, added,
"Mera Cashier empowers the user to analyse his data scientifically (which is nearly impossible over a manual bahi-khata) and take informed decisions. Most traditional businessmen have an astute sense of business even without using any technology. Just imagine the impact that an app like Mera Cashier can bring in their lives. Every day, millions of hours can be saved and utilized in things like business growth, education or getting a better work life balance."
In October 2019, Bengaluru-based KhataBook, a mobile app that enables SMEs to record and track business transactions, also secured $25 million in Series A funding from Partners of DST Global, GGV Capital, Sequoia India, Tencent and others. KhataBook app, which app is available in 11 languages and also has a presence in Nepal, Pakistan and Bangladesh, claims to have over 2.9 million active businesses and over five million registered merchants on its platform.
(Edited by Evelyn Ratnakumar)