EazyERP Technologies announces merger with Recibo Technologies

FundTQ exclusively advised the merger of EazyERP Technologies with Recibo Technologies.

EazyERP Technologies, one of the top three companies in Enterprise Risk Management (ERP) and Distribution Management System (DMS) has merged with Recibo Technologies to expand into the Sales Force Automation (SFA) by providing inclusive ERP-DMS-SFA solutions to its customers. This merger will open ways to a wider market to both the parties and will help capture a greater share in the market with a combined revenue of Rs. 200 Crore by year 2024 with an EBITDA margin of 40%.

EazyERP is providing a wide array of solutions like ERP, DMS,SFA,Payroll, Asset Management,CRM and Customised Solutions across various industries. Recibo is an omnichannel platform providing Sales Force Automation, B2B ecommerce,Distribution Management & Retail Execution solution for Brands & Wholesale Distributors. 

“EazyERP Technologies is one of the top 3 DMS companies and coming together with Recibo Technologies is a great opportunity for both of them in terms of providing end to end solutions to large enterprise clients. With the use of proprietary FundTQ, it became convenient to find the right partner out of the 45+ potential target companies” said Aanchal Malhotra, Growth Partner at FundTQ.

FundTQ is a one-of-a-kind digital funding assistance platform; Mergers and Acquisitions and Cross Border Deals, including features like Instant Valuation and Connect with Right Investors. Through their AI based software, FundTQ helps startups value their startups and find most relevant investors in a span of minutes. Currently, FundTQ is being used by 1,000+ startups and 3,000+ investors globally.

Automovill raised an undisclosed amount in Pre Series A Round from IPV. FundTQ acted as an exclusive advisor for Automovill to raise the funds from IPV. 

Mridu Mahendra Das, Chinmay Baruah and Ramana Sambhu founded Automovill in 2015. Automovill has the 3rd largest presence across India and caters to 15 lakh customers throughout the market. 

Automovill provides automotive solutions, after sales services and second hand cars for sale catering to a large market competing with GoMechanic and Pitstop. It provides cashless Insurance claims in 20 cities with 18 insurance companies currently. Automovill currently holds 500+ Multi Brand Workshop in India in 20+ cities.

“Automovill is catering a huge market with a large customer base and , This funding raised by them from IPV will help them to increase their operations efficiency and to broaden their market scope.” said Aanchal Malhotra, growth partner of FundTQ.

FundTQ is a one-of-a-kind digital funding assistance platform for institutional investors and mergers and acquisitions, including features like, ‘Valuation Software’ and ‘Choose Right Investors Platform’. Through their unique technological tools, comprehensive advising services, and network of businesses, FundTQ takes a hybrid approach to start-up fundraising and M&A. A proprietary valuation software available on a subscription basis that allows companies to value their venture in 10 minutes using 15 data points in the most complex and data-driven manner; and a Choose Right Investors platform that helps start-ups pick and choose the right institutional and strategic investors from a pool of 3000+ investors anytime, anywhere with a click of a button. 

FundTQ’s solutions are now being used to raise funding by over a hundred start-ups and mid-sized businesses. Founders must take a methodical approach to fundraise. You start with a huge pool of possible investors and narrow it down to those with whom you have a personal connection. FundTQ assists you in identifying and connecting with potential investors. Their main goal is to find you the appropriate investors at the right time and at the right price.

FundTQ is serving as an exclusive advisor and a lead sourcing partner for an agri-tech D2C company, GreenSat Innovation. With modern technologies like satellite imagery, artificial intelligence, and blockchain, GreenSat aims to profoundly transform agriculture. 

Greensat has recently raised undisclosed funds with the help of FundTQ. This round is a part of an ongoing round of $2mn.

Greensat, founded by Mr. Deepak Yadav and based in Mumbai, India, started its mission to contribute to the largest sector of the country, i.e. the agricultural sector. With proprietary AI algorithms, the company processes and analyses the data provided by satellite and provides user-friendly insights to farmers. With descriptive and suggestive insights, GreenSat has shown its needs in the sector. 15K+ farmers are using the app and are satisfied with the information provided on it. The app provides weather forecasts, the latest agricultural norms, crop growth stage analyses, and pest detection based on environmental factors. The app’s major feature, however, is illness diagnosis using computer vision. A farmer only needs to point their smartphone’s camera at a crop, and the software identifies and addresses any illness that may be present in seconds. This is extremely beneficial since many illnesses appear to farmers to be the same, and incorrect treatment might result in crop loss.

With the fresh capital, GreenSat plans to scale up operations in new geographies, enhance its tech infrastructure, build high-performance teams across functions, and focus on other business development activities. “India’s agricultural sector has immense potential for growth. GreenSat has rightly taken the step and excellently come up with a brilliant app. The company also came up with crop sales, insurance, and loans. 

We believe GreenSat is doing great and has the potential to grow.” said Aanchal Malhotra, Growth partner of FundTQ. 

FundTQ is a one-of-a-kind digital funding assistance platform for institutional investors and mergers and acquisitions, including features like, ‘Valuation Software’ and ‘Choose Right Investors Platform’. Through their unique technological tools, comprehensive advising services, and network of businesses, FundTQ takes a hybrid approach to startup fundraising and M&A. A proprietary valuation software available on a subscription basis that allows companies to value their venture in 10 minutes using 15 data points in the most complex and data-driven manner; and a Choose Right Investors platform that helps startups pick and choose the right institutional and strategic investors from a pool of 3000+ investors anytime, anywhere with a click of a button. 

FundTQ’s solutions are now being used to raise funding by over a hundred startups and mid-sized businesses. Founders must take a methodical approach to fundraise. You start with a huge pool of possible investors and narrow it down to those with whom you have a personal connection. FundTQ assists you in identifying and connecting with potential investors. Their main goal is to find you the appropriate investors at the right time and at the right price.

In the capacity of exclusive advisor and lead sourcing partner, FundTQ has successfully closed the seed round for Cercle X, led by Inflection Point Ventures. Cercle X is a tech-driven, cloud-based waste management firm that enables brands to achieve zero waste through circularity and meet their sustainability goals. 

The Coimbatore-based platform was founded in 2020 by Vishnu Vardhan and Divya Shetty, with key focus on creating a B2B Marketplace that connects key players (such as brands, consumers, MRFs, aggregators, recyclers, etc.) across the waste value chain and provides a platform for traceability, transparency and access to quality waste. Been accorded the Outstanding Environmental Changemaker Award 2020, Cercle X has a network of 700+ vendors and channelizes 500+ MT of recyclables every month. They also execute EPR mandates for 20+ large corporates and have direct relationships with more than 50 governmental agencies and ULBs. 

“Waste management via sustainable methods is vital nowadays. With Cercle X optimizing waste management coupled with IPV’s extensive network across sectors is set to scale rapidly,” said Aanchal Malhotra, Growth Partner of FundTQ – a digital funding assistance platform for institutional investments and M&As. 

Pertaining to FundTQ’s role in deal closures, associated founders have found that FundTQ’s proprietary valuation software and choose right investors platform, make the fund raising process seamless and efficient. Based on user feedback, the close accuracy of FundTQ’s 10-minute valuation software is a game-changer for start-ups.

FundTQ follows a hybrid approach for fundraising and M&A through their distinctive technology driven products, holistic advisory services and elaborative network of firms. It’s Proprietary Valuation Software, also available on subscription basis, is Asia’s 1stSaaS Valuation Tool that allows a company value their venture in under 10 minutes using just 15 data points, effectively simplifying an otherwise complex and highly data-driven process. FundTQ’s Choose Right Investors platform further allows start-ups to select a combination of institutional and strategic investors from a pool of 3000+ investors, with just a few clicks! 

While successfully running more than hundred deals for a variety of start-ups and mid-corporates, FundTQ has established itself as the go-to-platform that allows you to get the right valuation, systematically raise funds and grow your venture without getting into the hassle of tedious processes. 

Cercle X’s successful seed round is just one of the many success stories at FundTQ, and latest testimonial for the efficacy of FundTQ’s unparallel software.