PagarBook raises $15 million in Series A funding
PagarBook, a staff administration arrangements supplier, has raised $15 million in Arrangement A financing driven by Sequoia Capital and with cooperation from India Remainder.
This takes after the seed subsidizing PagarBook had raised from India Remainder and Sequoia Capital India. The company will utilize the new stores for item advancement and client securing. It too plans to include budgetary items such as installments and credit for MSMEs and their workers on its stage over the coming year, the company said in an articulation.
“India’s 60 million SMEs and its 400 million huge workforce contribute generally 30 per cent of India’s GDP, but still need a confirmed budgetary and proficient impression in any sorted out innovation biological system. As a result, they are cleared out out of the standard budgetary environment. At PagarBook, we address this enormous hole with our advanced human capital stage for SMEs,” Rupesh Kumar Mishra, Co-founder at PagarBook said. “We are as of now overseeing around 2 per cent of India’s SME workforce and by the conclusion of calendar year 2021, we point to develop five times,” he added. PagarBook makes a difference SMEs spare time on overseeing and keeping up participation records, speeding up installment cycles, decreasing debate, killing human blunders in wage calculation, installment of compensations and different other perspectives of human asset administration through a workforce administration app.
As of now, PagarBook has over five million SMEs in over 3,000 areas enrolled on the stage. The app is accessible in 11 Indian dialects.