QueueBuster, a mobile-based POS application, has raised Rs 63.3 crore or $8.16 million in its Series A round led by Chiratae Ventures, Omidyar Network India and Flourish Ventures. DMI Alternative Investment Fund (the Sparkle Fund) and Unaprime Investment Advisors also participated in this round.
The firm will focus on merchant growth, product enhancements and scaling of its distribution network.
Founded in 2016 by Varun Tangri, QueueBuster is a full-stack mobile POS application to manage billing, inventory, khata (daily ledger), and loyalty programs. The SaaS application is designed for retail, restaurants and automobile sales among others.
The company says it has over 20,000 merchants on-boarded clients ranging from kirana shops to enterprises like HUL, Tata and ITC, and claims to have started processing more than a million invoices a month.