The India-bаsed online MSME advisory platform MSMEx has rаised US$1 milliоn in pre-Series A funding rоund co-led by Rаzоrраy аnd TNF Investments on 18 June 2021.

Investors: Although the funding round was co-led by payments gateway Razorpay and international investment firm TNF Investments, the company has received past investments from several leading investors working in premier firms like Omidyar Network, SimpliLearn, Cleartrip, E&Y and many others.

Purpose of the funding: MSMEx will use this funding to develop new intuitive technologies, including a deep learning-based recommender system, a live chat system, an AI-based behaviour analytics system, and scale its operations to serve more users.

About MSMEx

MSMEx Logo
Founded by Amit Kumar in 2019, the company provides live business sessions to micro, small and medium enterprise (MSME) owners, where they can ask experts through a live chat community and converse with specialists with the help of video calls for guidance and expert advice. Thus, it links SMB owners with business professionals, allowing admittance to digital evolution and the most exemplary business services economically and systematically. The startup has more than fifty thousand users constituting micro and small enterprises across 1,200 cities in India. 

What the Founder has to say: “Less than 1% of micro-enterprises manage to grow and reach the next level in India, whereas the corresponding data for China and the USA are at 25% and 45%, respectively. Availing access to proficient mentors and advisors is adamant for micro-business owners since 90% of them reside in small cities and towns. MSMEx seeks to bring efficient business knowledge and mentoring services to all parts of India to develop future experts. Our investors hold professional expertise in the MSME domain. Hence, we are delighted to reach our mission of bringing a positive change in 10 million MSMEs in the coming five years.”- Amit Kumar, Founder of MSMEx.

What the Investors have to say: “We feel happy to get the opportunity to invest in a firm like MSMEx, which has the vision to resolve the challenges experienced by the under-served small enterprises. We are exhilarated to bolster MSMEx’s growth and innovation.”- Shashank Kumar, CTO and Co-founder of Razorpay.A prominent startup to confront the major drawbacks encountered by the micro and small business owners is MSMEx.”- Sаmir Khоslа, Mаnаging Partner at TNF Investments.

For more extensive analysis and Market Intelligence reports feel free to approach us or visit our website: Venture Capital Market Intelligence Reports | VCBay.

We try our best to fact check and bring the best, well-researched and non-plagiarized content to you. Please let us know

-if there are any discrepancies in any of our published stories,

-how we can improve,

-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback and thank you for stopping by!

Next Article

Previous articleIndian InsurTech RenewBuy raises US$ 45M in Series C funding
Next articleUS-based music licensing marketplace Songtradr raises US $50M in series D investment
Sankalp majorly focuses on writing newsletters on VCBay. He is pursuing Bachelors in Economics from the University of Delhi and exhibits proficiency in content writing and research.

LEAVE A REPLY

Please enter your comment!
Please enter your name here