BluSynergy, provider of subscription billing services, is gearing up to expand its market presence in India and enhance offerings on the mobile platform.

The Bengaluru-based start-up founded by Mridhul Prakash and Sunny Thandassery, friends who had worked in various capacities in the US before returning to start a venture here, offers software tools that help manage recurring subscription payments.

“Our core areas of operation are start-ups and technology companies billing and traditional ones such as school fee collection, toll collection, and automatic invoice generation.

“Our motto is ‘bill smarter; collect faster’. We provide telco functionality at affordable cost, charging the customer only as per bills generated," Mridhul Prakash, Co-Founder and Chief Executive of this year-old company told BusinessLine.

The company works with clients across verticals including education, infrastructure, NGOs, and technology companies.

"We enjoy a close relationship with banks such as Federal Bank, HDFC and SBI, where a bulk of our funds are deposited currently. We have tied up with payment gateway providers such as Citrus Pay, BillDesk, EBS, and Pay U for enabling online payments. In fact, we are the only company in India offering to collect payments offline through bank branches by virtue of integration with the bank's core banking system,” he said.

The company currently handles around 15,000 invoices every month, collecting Rs 50 crore worth of business for its customers.

To a query on funding he said, “the seed investment of Rs 1 cr from Privo Tech Corp (P) Ltd along with our investment helped us develop and take the solution to market. For product development, our focus at this juncture is on mobile. We are looking for investors to support our expansion plan”.

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