Suvidhaa Infoserve, a company that provides internet-based payment collection services for various industries, including mobile telephone services, electric power, gas, insurance and e-commerce, aims to have almost 70 per cent revenues from its financial services business that includes processes like remittance, prepaid cards, prepaid wallets, Aadhaar-based financial processes, cash transfer etc.
Bathija feels that through inorganic growth, the company can become a category leader in other financial services or can add to its sheer size or presence in terms of scale; Suvidha will be happy to acquire a company.
The firm was started six years ago with angel funding from billionaire Shapoorji Pallonji Mistry, the largest shareholder of Tata Group’s holding firm Tata Sons. It went on to raise venture funding from Norwest Venture Partners, Reliance Venture Asset Management and IFC. In late 2011, it got on board Japan’s Mitsui & Co Ltd which invested $12 million (Rs 60 crore back then), taking its total funding to around $25 million.
In an Interaction with VCCircle, Bathija discusses the company’s plans for external funding, inorganic growth, revenue split of different verticals and more.