(Allocation provides a wealth creation opportunity to every employee)
BENGALURU, India, Jan. 17, 2025 (GLOBE NEWSWIRE) --
- Innoviti Technologies Pvt. Ltd., India’s largest payments-centric retail SaaS platform for enterprise brands and their SME channel partners, announced today that in preparation for its IPO it has carried out an additional allocation of Rs. 25 Cr. of ESOPs to 110 employees. With this the total allocation to employees now stands at Rs. 106 Cr.
- 50% of the allocation is towards bringing all employees who have spent more than 1 year with the company under the ESOP plan. The remaining 50% is a grant given to select few employees based on their outstanding contributions to the company. The grants vary from Rs. 3Cr. to Rs. 1 lakh.
- Innoviti delivers retail SaaS through digital payment channels to help businesses unlock value at the point of consumption left undiscovered by traditional payment solutions. The company’s modern software connects retail and payment systems to deliver new and unique payments, operational, and marketing software through payment channels at the point of consumption.
- The company’s sales negotiation software “innoviti genie” for mid-market electronics merchants has grown at an annualized rate of 192% in the last year. The enterprise payments software “innoviti unipay” for large enterprises has posted a 15% annualized growth over last year with 28% EBITDA. Innoviti in December 2024 launched its payment collection app “innoviti link” for mid-market merchants doing delivery. This was developed under its online PA license received from RBI. The app has shown a rapid adoption and is targeted to cover 30,000 merchants by March 2025.
- The company is operating at an annualized run-rate of Rs. 160 Cr., with less than Rs. 8 Cr. of annualized EBITDA loss. Operating profitability is targeted in the next couple of quarters, setting the stage for a proposed IPO in the next 12 months.
- The company received the final authorization from RBI to operate as an online payment aggregator earlier this year.
Quotes:
“Innoviti's spectacular performance of 67% revenue growth and 58% EBITDA loss reduction, in the last few quarters, would not have been possible without the hard work put in by the exceptionally talented team at Innoviti. The company is planning for operating profitability within the next 2 quarters, and has initiated IPO planning with an aim to list in the next 12 months.
I hope this reward will translate into wealth and happiness for Innoviti’s employees. I hope it will help them reinforce their belief that merit, sincerity, and hard work always pays. I hope that it will help them fulfill their dreams, as they help the company fulfills its.”– said Mr. Rajeev Agrawal, CEO, Innoviti.
About Innoviti Technologies Pvt. Ltd., Bangalore, India.
Innoviti provides payments-centric retail SaaS software to enterprise brands and their SME channel partners, helping them grow faster and with lesser efforts, by unlocking competitive advantages left hidden away by traditional payment solutions. Innoviti’s tools run across online and offline payment channels, processing over Rs. 80,000 Cr. annually from across 2000 cities and over 20,000 merchants. The company processes more than 50% of all purchases happening in enterprise retailers in the food & grocery, lifestyle, and healthcare categories. Backed by marquee investors such as Bessemer Venture Partners, USA, FMO, Netherlands, Catamaran Ventures (Mr. Narayana Murthy’s family office), India, and the Patni Family Office, India, Innoviti is the recipient of RBI’s final authorization to operate as an online payment aggregator. The company has won the 50 fastest growing companies in Asia award from Deloitte four times, Reliance Innovation Award, and the Mastercard Innovation Award, and has 11 patents to its name, with 16 more in pipeline.
Media Contact:
Chinmaya Bhure
chinmaya.bhure@innoviti.com
+91-98212-15631