Indian cricketer Rishabh Pant buys 2% stake in TechJockey for Rs 7.4 crore

Indian cricketer Rishabh Pant has made his entry into the tech world by acquiring a 2% stake in TechJockey.com, a growing online marketplace for software solutions.

The deal, valued at Rs 7.40 crore, places the company’s overall valuation at Rs 370 crore (around $44.17 million). 

What does TechJockey do?

Founded in 2017 by Akash Nangia, a former Vice President at Zomato, and Arjun Mittal, an ex-McKinsey executive, TechJockey connects software vendors with small businesses across India.

The platform offers software solutions tailored to the needs of businesses in over 500 categories. In early 2024, it expanded its operations into the United States, further enhancing its global presence.

Pant's motivation for investing

Pant’s decision to invest in TechJockey stems from his experience in professional sports, where technology plays a crucial role.

"In cricket, having the right technology for live streaming, commentary, and DRS is crucial. The right tools help make smart decisions. I've seen how software can grow businesses efficiently, so investing in TechJockey made sense to me," Pant explained.

He also highlighted his interest in the Software-as-a-Service (SaaS) model, recognizing its potential in driving business growth.

Pant’s investment to fuel expansion

TechJockey plans to use the raised capital toward scaling marketing efforts, particularly in the US, and increasing the number of global sellers on its platform.

The company’s SaaS-based approach positions it well for continued growth, with a focus on helping small businesses access effective software solutions.

“Having Rishabh on board is a significant win for us, not only because of his stature as a cricketer but also due to his deep understanding of business," said Nangia.

Financial performance

TechJockey reported a revenue of Rs 125 crore in the financial year 2023-24, with Rs 7-10 crore generated from advertisement sales.

The remaining revenue came from margins charged to sellers on the platform.

The company aims to boost its revenue to Rs 170-180 crore by FY25. Currently, it caters to over five lakh businesses monthly, providing a wide range of software solutions to meet their needs.