Reliance Venture Asset Management has successfully completed the Series A round of venture funding in Gradatim IT Ventures, a notable entity in the micro-transaction technology space, that provides technology enabled on-demand solutions to leading MFIs, NBFCs, and insurance providers.
With 11 portfolio companies already under its stable, this is Reliance Ventures’ third investment in this year alone – it recently completed leading rounds in Reverse Logistics, a reverse supply chain solutions company and Tessolve Services, a semiconductor test and product engineering company.
The investment in Gradatim comes close on the heels of these and is in line with the company’s vision to invest in disruptive ideas backed by a scalable business model. Indo US Venture Partners is the existing investor in Gradatim. YES Bank was the exclusive advisor to this transaction.
Bangalore headquartered Gradatim IT Ventures was founded in 2007 and offers flexible and cost effective BPU services to organizations across different industries by leveraging its scalable and robust platform. With an employee size of about 70, it provides a platform to service an end user base of more than a million customers of banks, microfinance bodies, insurance, and non-banking finance companies.
It enjoys an active presence in India and Singapore and has recently extended its operations to include Australia and Dubai.
