OkCredit, which is an Accounting Application, has now secured $15.5 Million in its Series A funding round led by the Morningside Venture Capital and Tiger Global Management. Some of the existing investors Y Combinator, LightSpeed India partners, Venture Highways.
OkCrediit also plans to use the fresh funding to further scale its merchant user base and expand team, among the others, also revealed.
OkCredit connects small business suppliers, owners, and customers and even enabled them to record credit and payment transactions.
The startup which is launched in the year 2017 by the IITian Kanpur Alumni, Aditya Prasad, Gaurav Kumar, and harsh Pokharna, OkCredit claims to have around two million merchants and currently uses its solution to process $2 Billion worth of transactions on the platform each and every month.
“Our software helps India’s business-to-consumer (B2C) and business-to-business (B2B) micro merchants to get organised and be efficient. We have spread virally across all regions of India among Kirana, mobile stores, pharmacies, restaurants, B2B traders and many other types of businesses,” Pokharna said.