Bengaluru based business expense management startup Happay has raised a $10.1m Series B round led by Sequoia Capital India.
As per filings with the Ministry of Corporate Affairs (MCA), the investment was raised last month, against the allocation of 6,294 preferential shares at a premium of $1,603 (INR 1.03 Lakh) a piece. Confirming the fundraise, a spokesperson for the company said, “We are growing strong in India and our solutions are used by 4500+ businesses. We are present in 10 cities with partners in 27 cities. We are well funded today and are open to growth opportunities. In recent years, government’s policies like demonetisation, GST, has provided a conducive environment for the growth of digital payment, and we are looking at the next growth trajectory for business.”