Fintech Startup Realbooks worth INR 13.75 Cr acquired by IndiaMART
- ByStartupStory | March 1, 2022
Approx INR 13.75 Cr invested by IndiaMART, a Noida-based B2B marketplace in Adansa Solutions, parent company of Realbooks. Realbooks may be a cloud-based fintech startup that helps businesses with easy financial accounting. IndiaMART distributed the transaction through its wholly owned subsidiary, Tradezeal Online. Under the deal, the B2B marketplace platform has agreed to accumulate shares via a combination of primary and secondary share purchases, and its final shareholding post the round shall stand at 26.01%.
“We at IndiaMART firmly believe that Indian businesses are diverse and have varied accounting and billing needs. Unlike existing desktop-based software solutions which were designed for traditional businesses, the team at Realbooks has consciously designed a cloud-first product which makes it appealing for new-age businesses,” said Dinesh Agarwal, CEO of IndiaMART. IndiaMART has invested in a very host of startups including Vyapar, Bizom, Shipway, Legistify, Superprocure, Aerchain, M1xchange, Easyecom, Fleetx, Industry Buying, and BUSY, since its listing on BSE and NSE.
According to IndiaMART, these investments are a part of its long-term objective of offering various software solutions which improve simple doing business for Indian businesses and enterprises. Agarwal further said, “We believe that this investment complements other initiatives we are taking within this space, and are excited to partner with them for his or her next phase of growth”.
IndiaMART was founded in 1999 which connects buyers with suppliers. It aims to form doing business easy. It asserts to have been trusted with 143 Mn buyers, 7 Mn sellers, and has 80 Mn products likewise as services on its platform resulting in approximately 40 Mn business enquiries monthly.
“We are very happy to welcome IndiaMART as an investor and our strategic partner. It’s an exciting time for businesses in India and technology like UPI and GST is bringing new opportunities and challenges,” said Anurag Mohta, CEO of Realbooks.
Adansa Solutions under the brand ‘Realbooks’, offers a cloud based accounting product for businesses. It further enables businesses to form customised invoices, attach files to vouchers, and manage their inventory. From one dashboard, it also allows the managing of different business units.
Focusing on providing a ‘360- degree solution’ to SMEs, large enterprises further as individuals, IndiaMART claims to have a 60% market share of the web B2B Classified space in India. The company had consolidated revenue of INR 756 Cr and profit after tax of INR 280 Cr during FY 21.
In Japan-based company, IB Monotaro, it acquired a stake of 26%. It bought the 810K shares from Emtex Engineering for a complete consideration of INR 104.2 Cr, says a report. It aims to serve B2B businesses by offering an end-to-end commerce experience enablement. Besides this, it made a 100% acquisition of Busy Infotech for INR 500 Cr.
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