Mobile point of sale start-up company, QueueBuster just raised funds amounting to Rs. 63.3 crores in their latest Round A of investments. This round was primarily led by Chiratae Ventures and Omidyar Network India along with a few other Indian based fund management companies.
When asked what the company plans to do with this fresh batch of investments, their spokespeople said that they will use it to scale up their business and grow the company. They will also use the money to increase and up their merchant growth, and also work on improving their products. Distribution is also a crucial part of their business flow which they will look to strengthen and make consistent.
The company enables their users which are mainly businesses and retail merchants to use their full stack mobile point of sale technology which makes the entire process of billing, e-commerce, customer management and loyalty and so much more very easy and direct. The company claims that they can be used for almost any kind of business and that their technology is very flexible and will work well with any industry the business is playing in.
According to the company, many top businesses in the country use their one of a kind technology including ITC Limited, Mother Diary, Unilever India, and Gully Network.
The company was founded 6 years ago back in 2016 and its head office is situated in Noida, Uttar Pradesh.
This funding comes at a time when many companies have been bearing the brunt of low funds flow with many companies being forced to slowdown or even let go of employees, but QueueBuster has been able to raise funds at a crucial time to get their name and business out there.
The company has set a target as they are aiming to have 10 million merchant clients in the next 3 years.
The founder of the company said that businesses in the nation are struggling by using various types of apps and platforms to take care of different types of businesses. However, their platform is able to consolidate the various features and facets of business and lets you take care of it all in one comprehensive space making it much easier and relieving business people of a big headache.
The app can be downloaded from the play store and is available to every Android device.
The company has been gaining a lot of traction recently and will hope that with this investment, they can continue that growth.
