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Prepaid cards solution startup Bizpay raises funding from Inflection Point Ventures

The prepaid card solution startup plans to use 20% of the funds for product development, 60% for marketing, and 20% for other company purposes.

Vivek Vishwakarma
New Update
Bizpay Logo

Bizpay Logo

Bizpay has raised an undisclosed amount in a seed funding round led by Inflection Point Ventures, a Gurugram-based angel investment firm. 

According to the company's statement, the startup plans to use 20% of the funds for product development, 60% for marketing, and 20% for other company purposes.

Founded in 2021 by Mikdad Merchant, BizPay is a mobile-first expense management software suite that offers automated corporate prepaid cards, apps, and services to help businesses stay within budget, ensure policy compliance, and provide real-time spending visibility for manager

The startup offers a prepaid card solution integrated with advanced SaaS software, enabling corporates to streamline expense management, gain insights through analytics, and enforce policy compliance. 


Vikram Ramasubramanian, Partner, Inflection Point Ventures, said, “We are thrilled to be part of BizPay's journey towards reshaping the corporate expense management landscape in India. The innovative integration of prepaid cards and advanced SaaS software presents a transformative solution for businesses to streamline expenses, gain actionable insights, and ensure compliance."

Currently operating across India, Bizpay said it plans to enter the Middle East and North Africa markets. The company is poised to broaden its reach and extend its innovative expense management solutions to a global audience.

Mikdad Saleem Merchant, Founder of Bizpay, said, "Over my 13+ years in auditing and accounting, I repeatedly observed that employee expenses outside the office were a significant source of errors and losses. Delayed or missing reimbursements caused frustration for employees, while lack of visibility and control led to overspending. To address these pains and empower businesses, we founded BizPay. By integrating a comprehensive software suite with corporate cards, digital wallets, and Travel Management Solution, BizPay emerged as the solution to track spending, curb wastage, and drive substantial savings for businesses of all sizes."

The startup said that its versatile platform enables corporate financial planning and can be used for various expense types, making it a comprehensive and innovative solution for businesses seeking efficient expense management.

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