QueueBuster Funding: Mobile POS Startup QueueBuster Raises $8.16M Led by Chiratae Ventures
Alternative investment fund DMI Sparkle Fund and Unaprime Investment Advisors also participated in the round.
According to the company, it will use the funds to focus on growing merchants, improving products and scaling its distribution network.
Founded in 2016 by Varun Tangri, QueueBuster is a complete mobile PoS application provider, which helps businesses manage billing, inventory, daily ledger and customer loyalty programs from a single application. .
Application is through small
kiranas, retail and food service establishments as well as fashion, clothing and automotive stores. QueueBuster works on all Android devices, including recently introduced Android-based card swiping machines.
“With QueueBuster, merchants can easily manage all of their business operations. Our goal is to reach at least 10 million merchants by 2025,” Tangri said in a statement.
Discover the stories that interest you
Currently, QueueBuster claims to have over 20,000 merchants integrated on its platform across multiple industries ranging from neighborhood kirana stores to even large corporations including Limited(), Tata, and .
The startup has processed over 1.1 million invoices worth over Rs 130 crore in May 2022. So far, they have registered over 12 million invoices worth over Rs 1000 crore on their application since January 2021.
The startup’s product suite currently competes with 1K Kirana Bazaar, Vyapar, FloBiz, Dukaan, and Bikayi.
“QueueBuster has developed a very comprehensive solution for MSMEs in terms of functionality, user experience and cost effectiveness. Their determination to provide the best after-sales service to MSMEs will be the cornerstone of success in the MSME market,” said
Sundaram, founder and vice president of Chiratae Ventures.
Last month, even digital payment solution provider Innoviti raised another Rs 75 crore ($9.6 million) in the second closing of its ongoing funding round, led by existing investor, the Dutch development bank FMO.