This round of fundraise will help the start-up scale up its technology and sales capabilities
Invoice factoring start-up Reevoy has raised an undisclosed amount in seed funding round. The round was led by Stellaris Venture Partners, and saw participation from Start-up Angel Network (SAN), and Better Capital. This round of fundraise will help the start-up scale up its technology and sales capabilities.
The round also saw participation from Kunal Shah of CRED, Ramakant Sharma of Livspace, Ashish Sharma of InnoVen Capital, Atul Mehta who is ex-World Bank Group officer, and Vinod Murali of Alteria Capital, among other notable players.
Partner at Stellaris Venture Partners, Ritesh Banglani believes that Indian SME exporters can compete with the best in the world. However, they but are weight down by unavailability of working capital credit, and expansive as well as expensive credit cycles.
Source: Business World