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RTVL, Norwest Ventures Invest In E-transaction Firm Suvidhaa

25 September, 2008

Reliance Technology Ventures and Norwest Venture Partners India have invested an undisclosed amount in Mumbai-based Suvidhaa Infoserve Pvt Ltd, which has a technology that helps people make daily transactions such as railway ticketing, mobile recharge, air ticketing, insurance payment, bill payment, bus ticketing, movie ticketing and so on.

The company has already installed its devices in some 4,000 kirana stores. Suvidhaa’s proprietary technology platform integrates these kirana stores to the various services providers’ systems.

The company is backed by the Shapoorji Pallonji group and calls itself a services commerce (S-Commerce) firm. Suvidhaa’s services intends to allow customers to avail themselves of any service across any sector at single-window access points in a unique click-and-mortar set-up.

Suvidhaa plans to use the funds raised to expand its portfolio of service offerings into vertical markets throughout India and enhance business development and marketing efforts.

Suvidhaa plans to expand its presence in 100 cities and launch 20,000 franchisee outlets by March 2009. It currently has a presence in 4,000 local kirana stores. The storekeepers benefit from increasing footfalls in their stores and it also gives them an additional source of income.

Suvidhaa has been promoted by Paresh Rajde and initially funded by Shapoor Pallonji Mistry. Suvidhaa has tied up with IRCTC for railway ticketing and all the major airlines to provide its services. It also has tie ups with telecom services such as Vodafone, Airtel, BSNL, Reliance, Idea, Tata and MTNL and multiplexes such as AdLabs and Fun Cinema.


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3 Comments
Sameer Lakhani . 6 years ago

Great work by Saffron Capital Advisors in advising Suvidhaaa!!! Keep up the good work fellllaassss

santhanam vaidya . 6 years ago

The proposition is interesting indeed. We do not know the revnue model and the amount of investment made by the VCs.

Pravin . 6 years ago

integrating Kirana stores seemed a good idea when shopping malls were new and untested. However the success of Big Bazaar & others alike show a shift in trend where even the lower income group is moving away from Kirana stores…

As far as online booking of railway and air ticketing is concerned, this is just another “me too” idea… and so, I think this venture has limited potential…

RTVL, Norwest Ventures Invest In E-transaction Firm Suvidhaa

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