Software-as-a-Service (SaaS) firm NimbleS2P on Tuesday said it has secured pre-Series A funding of $483,383 (around Rs 4 crore) led by Inflection Point Ventures, with participation from a clutch of micro-venture catalysts and angel investors.
The Mumbai-based startup will deploy the fresh proceeds for product development, sales, marketing and scaling up relations.
Founded by Chandresh Sharma and Arun Krishnamoorthy in 2016, Nimble S2P helps manufacturing and infrastructure companies streamline and automate workflows related to finance, accounting and procurement. The company claims to reduce the processing time by 50–70%.
It counts DLF, Jindal Steel & Power and Oberoi Realty, among others, as part of its client portfolio.
"In the next 2 to 3 years, we aim to establish a strong foundation and attract 200,000 users, expanding to the Middle East, and South Asia.” said Sharma.
“MSMEs contribute nearly 30% to the GDP. However, sectors like manufacturing, power and infra have remained untouched by digital transformation. NimbleS2P allows them to leverage their product to make an efficient and structural model and organise their workflow,” said Ankur Mittal, co-founder, Inflection Point Ventures.
Founded by Mittal, Vinay Bansal and Mitesh Shah in 2018, Inflection Point Ventures is an angel investing platform based out of Gurugram. Since its inception, IPV has so far invested over Rs 550 crore across 140 deals. Last year, the firm announced the launch of Physis Capital its $50 million VC fund to invest in pre-Series A to Series B rounds in the startups.
Last week, Inflection led the $2 million Series A funding round of the mortgage lending platform LoanKuber. In January, the angel investing firm participated in the $2 million seed funding round of the house of brands player SuperCluster Pi.