EnKash, which provides a platform for the enterprises to automate and manage the payments, has now secured $3 Million in the funding round of Pre Series A from the Axilor Ventures and Mayfield India.
The startup which is run by the Nehat Tech Solutions Pvt Ltd, the company will now be going to use the funds to expand its technology infrastructure apart from beefing up its management team.
EnKash, which is founded by the Hemant, Yadvendra, and Naveen in the year 2017. It provides the businesses to manage their purchases invoices and orders and even enables them to track the payment system to the suppliers or from the buyers as well. The platforms also help to provide reconciliations and analysis.
EnKash also revealed that it counts the ICICI Bank and Kotak Mahindra Bank as its major clients.
“Their core technology platform solves issues around the dearth of working capital through a payment’s mechanism, which we believe, will create tremendous value for the supplier ecosystem in India,” said Vikram Godse, managing partner at Mayfield.
With respect to the recent deals in the Business to Business segment, payment gateway startup Cashfree before this month revealed that it had secured $5.5 Million in the funding round of Series A from the South Korean based firm.