BizPay, a startup offering a mobile-first expense management software suite, has successfully secured an undisclosed amount in a seed funding round. The funding was led by Inflection Point Ventures, an angel investment firm based in Gurugram.
BizPay Allocation of Funds and Company Statement
According to a statement from BizPay, the company plans to allocate the funds strategically, with 20% earmarked for product development, 60% for marketing initiatives, and the remaining 20% allocated for other essential company purposes.
Transforming Corporate Expense Management
Founded in 2021 by Mikdad Merchant, BizPay provides an innovative suite of tools including automated corporate prepaid cards, apps, and services. This comprehensive offering assists businesses in maintaining budget adherence, ensuring policy compliance, and providing real-time spending visibility for managers.
Streamlining Expenses Through Integration
BizPay’s core offering integrates a prepaid card solution with advanced SaaS software, empowering corporations to streamline expense management. This integrated approach not only facilitates expense tracking but also offers insightful analytics and policy enforcement.
BizPay Future Plans and Global Expansion
The startup, currently operating in India, has ambitious expansion plans. BizPay intends to venture into the Middle East and North Africa markets. Mikdad Saleem Merchant, founder of BizPay, envisions reshaping corporate expense management. He emphasizes the company’s mission to tackle issues like errors, losses, delayed reimbursements, and overspending. BizPay integrates robust software with corporate cards, digital wallets, and a Travel Management Solution to foster significant savings for global businesses. The versatile platform provides solutions for diverse expense types, catering to businesses of all sizes for streamlined expense management.
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