While Rs 60 crore is in the form of equity infusion into the company, around Rs 10 crore has been infused as debt.
Speaking with ET, Rajeev Agrawal, chief executive officer, Innoviti, said that US-based venture fund Random Walk Solution led the round along with participation from existing investors Bessemer Venture Partners, Patni family office and Alumni Ventures.
With the close of this round, Innoviti has raised around Rs 400 crore since inception. Agrawal said that the company had achieved a valuation of $230 million after this round.
“We are on track to file our DRHP for a public listing in the next three to four months,” he said.
Agrawal intends to use the money to power the firm’s online merchant payment business. The Bengaluru-based company received the payment aggregator licence from the central bank earlier this year.
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Innoviti operates in the offline merchant payments space focused on large organised retailers like Reliance Retail, Tanishq and Shoppers Stop. “We have some debt in the book. With these funds we intend to clean up the balance sheet and power growth in the online space,” Agrawal said.
In a separate statement, the company said that it is operating at an annualised run rate of Rs 160 crore with annualised negative earnings before tax, depreciation and amortisation of Rs 8 crore. The company is targetting to become operationally profitable in the next couple of quarters.