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Bengaluru-based integrated business-payments platform Pazy raises Rs 6 crore in funding
- Bengaluru-based Pazy, an integrated business-payments platform, secured Rs 6 crore in funding in a pre-seed round led by Inuka Capital and Gemba Capital.
- The funding will be used to enhance product capabilities, deepen ecosystem integrations, and aim to manage Rs 10,000 crore in annual spend within a year.
- Founded in 2023 by Pratik Chhajed and Devyanshu Shukla, Pazy focuses on managing non-payroll payments like vendor payouts and tax transactions on a unified platform.
- Pazy integrates segments to assist finance teams in processing invoices swiftly, reclaiming more input tax credit, and reducing human errors.
- Pratik Chhajed, CEO of Pazy, envisions creating a cohesive product that unifies all business transactions for greater operational clarity, control, and efficiency.
- The funding will support Pazy in scaling annual managed spend to INR 10,000 crore in the next year, aiming to streamline clients' financial operations.
- Gautam Shewakramani from Inuka Capital highlighted Pazy's strategic position in B2B payments, addressing compliance and user experience demands with over INR 3,000 crore in processed invoices and a 90+ Net Promoter Score.
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