Invests Rs 61.55 crore
Indiamart Intermesh has announced its participation in the Series B Investment Round of Simply Vyapar Apps (Vyapar), of Rs 217.6 crore. The round has been led by WestBridge Capital, along with the participation of existing investor India Quotient. Vyapar's valuation post this round shall stand at approximately Rs 883 crore.As part of the transaction, IndiaMART has acquired shares for an aggregate investment of Rs 61.55 crore, via a mix of primary and secondary share purchases. Post this round, IndiaMART shall hold 27% in Vyapar on a fully diluted basis.
Vyapar offers a comprehensive GST billing, accounting and inventory management mobile and desktop software app for small businesses, which allows them to digitize their business operations. It has over 1 Lakh paying customers for its product.
IndiaMART had previously led Vyapar's Series A Investment Round in September 2019, by investing Rs 31.2 crore for a 26% stake in the company.
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