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Innoviti

“Can Innoviti become India's dominant unified payment aggregator and retail SaaS platform by embedding payments, credit, and revenue intelligence for enterprise merchants and SME dealers across both online and physical channels?”

Founded2002
HQBangalore, Karnataka, India
FoundersRajeev Agrawal
Total raisedUnknown (includes Series C, debt from FMO ~$5M, and other rounds)
Latest roundDebt Financing (most recent per Crunchbase)
IndustryVertical SaaS / Payments & Retail
The story

Founded in 2002 as a technology firm, Innoviti pivoted in 2008 into payments infrastructure for merchants across India, focusing on in-store POS, EMI, and multi-channel payment acceptance. By 2017, Innoviti layered in SME lending via dealer financing partnerships, embedding credit distribution alongside its payment stack. Over 2024–2026, Innoviti transformed into a fully RBI-authorized Payment Aggregator for both online and physical channels, positioning itself as a payments-centric retail SaaS platform with embedded lending, reconciliation, and revenue assurance capabilities for enterprise merchants and SMEs.

Last 12 months
2024-03
2026-01
Product timeline
2002
Innoviti founded by Rajeev Agrawal (IIT-Bombay) in Bangalore.· pivot
2008
Launched payments business enabling merchants to accept payments across channels including online, mobile, in-store, and at delivery.· banking
2017
Partnered with TTK Prestige to enable short-term business loans for 500+ dealers via SME lending platform (smelending.com).· lending
2020
Raised $5M debt from FMO to expand MSME-focused digital payments and lending infrastructure.· pivot
2024
Received RBI authorization as Payment Aggregator for online payments; also received SOC3 Seal of Excellence as India's first payments SaaS company.· banking
2025
Launched innoviti unipay (enterprise payment & revenue assurance platform), innoviti genie (dealer sales acceleration), and innoviti link (payment collection app).· pivot
2026
RBI expanded Payment Aggregator authorization to include physical (in-store) payments, enabling Innoviti to operate as a unified online + offline payment aggregator.· banking
Regulated entities
2
regulatory licences held by Innoviti
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
2 layers disclosed in Innoviti’s embedded-finance stack
Payments / PSP
Innoviti (self-operated Payment Aggregator)
Lending
in the full report
Accounting gap: minor
4 more providers across 1 layer, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.