Innoviti

About Innoviti

Innoviti Technologies Private Limited operates as a payments-centric retail SaaS platform, serving both enterprise brands and their SME channel partners in India. Founded in 2002 by Rajeev Agrawal and Amrita Malik, the company initially focused on wireless hardware systems before pivoting to payment solutions in 2007. The founder and CEO, Rajeev Agrawal, holds a Ph.D. from IIT Bombay and previously led product development at Sasken Communications, an experience that shaped his design-centric technology approach for Innoviti. The company is headquartered in Bengaluru, India.

Innoviti's business model is centered on transforming payment transactions into collaborative tools for commerce, connecting merchants, banks, and brands. It generates revenue through fees from payment services, operational services like reconciliation, and promotional services, with charges coming from merchants, banks, and original equipment manufacturers (OEMs). The firm processes over ₹72,000 crore in transactions annually across more than 2,000 cities, serving a client base that includes major retailers like Reliance Retail, Tanishq, and Shoppers Stop, as well as thousands of smaller merchants. Backed by investors such as Bessemer Venture Partners, Catamaran Ventures, and the Patni Family Office, Innoviti has secured its Series E funding and holds a payment aggregator license from the Reserve Bank of India (RBI).

The company offers a suite of software products designed to enhance sales and operational efficiency. Its flagship product, uniPAYNext, is an enterprise payment software that integrates with merchants' existing systems to automate reconciliation, support multi-acquiring to reduce costs, and facilitate a variety of payment methods including cards, UPI, and EMIs. For electronics and mobile retailers, Innoviti provides Genie, a sales negotiation and smart marketing app that offers features like price comparisons, EMI creation, and sales staff incentives. For small merchants without traditional POS systems, the company developed Link, a mobile app for generating and sending payment links via platforms like WhatsApp, with instant settlement to the merchant's bank account.