Greytip Software raised growth capital from Info Edge (India) Limited and MegaDelta Capital
Greytip is one of India’s largest pureplay cloud-based HR SaaS companies focusing on SMEs. Greytip has over 9,000 clients across India, the Middle East and Singapore. The company’s HR tech platform services more than one million employees. Greytip has redefined the SME software landscape in India by solving the product and pricing puzzle and by executing an efficient customer acquisition strategy. Today, Greytip has built significant scale in India’s HR tech space and emerged as a market leader.
Info Edge is India’s Internet pioneer with > USD 3.5 Billion in market capitalization.
Mr. Chintan Thakkar, CFO of Info Edge (India) Limited, commented, “We are excited to partner with Greytip. We believe Greytip has built a strong B2B SaaS business in a segment which has been traditionally underserved and has been tough for technology companies in India to penetrate.”
Tarun Sharma, Managing Director at MegaDelta Capital (previously NEA India), said, “Since our initial investment in 2016, Girish and the Greytip team have built a best-in-class SaaS business. Through a strong combination of product architecture and go-to-market strategy thoughtfully crafted for India, the company is successfully delivering on the massive opportunity of digitizing Indian businesses.”
Girish Rowjee, Co-founder and CEO of Greytip, added, “We strongly believe that capital raise is pivotal in accelerating Greytip’s growth story. We look forward to working with Info Edge given their deep understanding of the HR business and the SaaS space, as we chart out our next wave of growth plans. We also want to thank the support from our existing investors MegaDelta Capital (previously NEA India) and Blume Ventures.”
Gaurav Marathe, Managing Director & CEO of Lincoln India, commented, “We are delighted to have advised the Greytip’s management team and shareholders on this transaction. We believe this strategic partnership with Info Edge will place Greytip on an accelerated growth trajectory.”
Lincoln acted as the exclusive investment banking representative for Greytip, working closely with the company’s management team and shareholders throughout the capital raise process. This is the second transaction advised by Lincoln International in HR Tech space in India.
Lincoln’s deep understanding of Greytip's business and SaaS space was key to articulating our story and building a compelling value proposition. Lincoln worked seamlessly with the management team throughout the process. We appreciate their hands-on approach and commitment.
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