Internovo Ventures announced that it had acquired the rights to Mera Cashier, a technology platform offering ‘khata’ solutions to small merchants across India, marking Intervono’s first acquisition.
Karan Desai, a financial analyst, and Akshay Srivastava, the founder of DSFX Technologies, have joined forces to launch Internovo Ventures.
Following this transaction, Mera Cashier will be rebranded to Indibook, said Akshay Srivastava, Founder of DSFX Technologies. “Internovo’s soon-to-be-launched B2B2C loan origination platform Indirow will be deeply integrated into Mera Cashier and the technology stack of RULoans,” he said.
According to Desai, the transaction will enable Internovo to penetrate the small company and merchant categories by combining fundamental accounting with fully integrated loan arrangement services.
“Credit is a critical need for these merchants, including small grocery and stationery stores, and food stalls, and hence we want to offer a deeply integrated platform to our merchant community which will allow them to maintain their books and avail credit on the go,” he added.
Mera Cashier was developed and launched in 2019 to help small businesses digitize daily transaction records and successfully track credit sales. It takes the place of the manual registers that companies previously used and allows them to better keep track of unpaid invoices from their regular, known local customers.
According to Suneel Kumar, co-founder of Mera Cashier, the platform will evolve and remain competitive with the help of Internovo’s vast network in the financial services and lending sectors and its in-house technology development capabilities.
“The management team of Mera Cashier will stay closely involved in the development and re-launch of the platform as it embarks upon the journey to assume a new avatar and enhance operational profitability in the shortest possible time frame,” he added.
