Mobile POS startup QueueBuster raises $8.16 million funding led by Chiratae Ventures

• ByStartupStory     |    July 8, 2022

QueueBuster, a mobile point-of-sale (PoS) business, announced in a prepared statement on Monday that it has raised Rs 63 crore (or around $8.16 million) as part of a new fundraising round headed by Chiratae Ventures, Omidyar Network India, and Flourish Ventures. DMI Sparkle Fund, an alternative investment fund, and Unaprime Investment Advisors also took part in the deal. The company says it will use the money to concentrate on expanding its distribution network, improving its products, and growing its merchant base.

QueueBuster, a full-stack mobile PoS solution provider founded in 2016 by Varun Tangri, enables businesses to manage billing, inventory, daily ledgers, and customer loyalty programmes through a single application. The application is used in tiny kiranas, retail stores, restaurants, and stores selling clothes, cars, and other items. Including the recently launched Android-based card-based swiping machines, QueueBuster is compatible with all Android devices.

Currently, QueueBuster asserts that over 20,000 merchants from a variety of industries, including significant corporations like Tata, Hindustan Unilever NSE 0.93 per cent Limited (HUL NSE 0.93 per cent), and ITC NSE 0.36 per cent, have joined its platform.

In May 2022, the business processed more than 1.1 million invoices worth more than Rs 130 crore. Since January 2021, they have so far recorded more than 12 million invoices totalling more than Rs 1000 crore on their app. Current competitors of the startup’s product line include 1K Kirana Bazaar, Vyapar, FloBiz, Dukaan, and Bikayi.

For MSMEs, QueueBuster has created a solution that is quite complete in terms of functionality, usability, and affordability. The cornerstone of their success in the MSME sector will be their determination to offer the greatest after-sales service to MSMEs, according to TCM Sundaram, founder and vice chairman of Chiratae Ventures.

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