SaaS start-up BizzSetu has raised seed funding from a group of individual investors

• ByStartupStory     |    May 7, 2022

BizzSetu – A SaaS-based Transaction Processing Platform (TPP) start-up has raised seed funding from a group of individual investors. Co-founded by two brothers – Deepak Kedia and Narayan Kedia, BizzSetu intends to solve the problem faced by small manufacturers and their customers in day-to-day transaction processing.

Coming from a business family, the founders identified the problem faced by the manufacturing sector in handling transactions as the segment still uses conventional methods like phone, email, and courier to handle transactions. With over two decades of combined experience in the service sector, the founders resolved to solve this problem by providing a single platform connecting various transacting parties and hence providing a seamless experience.

The co-founder and CEO of BizzSetu, Deepak Kedia said ” We are delighted to have a network of investors supporting this initiative. Having investors from different sectors help establish a strong ecosystem. In the last two years, we have developed a prototype and used it extensively to get user feedback. A strong demand has been established. With this funding, we will now develop the final product and get first set of users within 3 to 4 months”.

Co-founder, Narayan Kedia said “The pandemic has shown importance of technology in businesses. Specially in MSME sector, we foresee great demand for technology resulting in better efficiency, productivity and customer reach. Technology has now become a key business enabler and our product is a step in that direction”

Angel investor and advisor to the company, Manish Shah said “I have seen the journey of Indian Stock Markets from trading in the ring to the web to trading on mobile, from physical to demat delivery, from 15 days settlement to just 3 days.   Stock markets were the first business in India to digitize.  Volumes went up, verbal communication came down.  There is no reason why other traditional businesses in India like Textiles, Chemicals & Steel should not reap the benefits of digitization. The time for the same is now”

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