Manch Technologies will use the new funding to step up its growth internationally and for product development initiatives.
Manch Technologies, a SaaS-based zero-coding digital transformation platform, has raised $1.1 million in its pre-Series A round led by Bharat Inclusion Seed Fund. Pentathlon Ventures has also joined the round.
According to the Bengaluru-based startup, the fresh capital will be used to ramp up its growth internationally and product development initiatives. The startup will also hire more staff in business development and marketing and plans to increase investment across marketing, sales, and customer support functions.
Founded by Suresh Anantpurkar, Manch is focused on digitalizing the interactions of enterprises with their external stakeholders. Its API-based zero-coding platform helps achieve rapid implementation enabling a paperless, contactless, and cashless business environment.
With over 30 customers in India and abroad, Manch helps them to automate their business processes such as customer, vendor, and merchant engagement, workforce management, identity verification, fraud control, and lending marketplace.
The four-year-old startup currently works with marquee brands such as Dunzo, NetAmbit, Paytm Money, PharmEasy, Swiggy, Xiaomi.
Commenting on the investment, Saras Agarwal, Principal at Bharat Inclusion Seed Fund, said,
“Partner lifecycle management is an area that is still largely manual, paper-driven and remains a void left by most enterprise applications. Manch offers scalable technology architecture to enable organisations to reduce chaos in dealing with external stakeholders, allowing them to efficiently conduct transactions in a ‘cash-less, presence-less, paperless’ framework.
“We are really excited to partner with Suresh and team; the no-code platform Manch has built allows any organization to bring in efficiency in various areas of their dealing with the partners, the tool has multiple applications ranging from partner/vendor onboarding, compliance, reconciliation, and fraud minimization. We are vowed by the list of the marquee clients Manch has been able to attract within a short period of time.”
“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,” said Shashank Deshpande, Managing Partner at Pentathlon Ventures.