TranZact scoops up $7 Mn in Series A round

SaaS platform TranZact has raised $7 million in a Series A funding round led by Tribe Capital with participation from Prime Venture Partners, Gemba Capital and existing investor Kae Capital. Angel investors also participated in the round including Suhail Sameer, Sriram Krishnan, Devendra Rane, Giridhar Malpan, and Krishna Khandelwal.

TranZact will use the fresh capital for product innovations and expand its team across all functions.

Founded in 2017 by Ritesh Kumar, Sharad Sen Sharma & Rohan Sen Sharma,, TranZact is helping Indian SMEs digitize and automate their entire business operations -from customer inquiry to dispatch. It helps SMEs make data driven decisions for business operations and focus on growth by streamlining Inventory, Purchase, Sales & Quotation management processes.

According to the Mumbai-based startup it has on-boarded more than 20,000 SMEs across industrial, electrical, and electronics, chemical, and packaging sectors and is currently recording monthly transactions worth over $150 million.