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B2B marketplace IndiaMART said on Monday that it has invested about ₹13.75 crore in Adansa Solutions Pvt Ltd, through its wholly-owned subsidiary Tradezeal Online.
“As part of the transaction, IndiaMART has agreed to acquire shares via a mix of primary and secondary share purchases, and its final shareholding post the round shall stand at 26.01 per cent,” it said.
Adansa Solutions under the brand name ‘Realbooks’, offers a cloud-based accounting software product for businesses. It enables businesses to create customized invoices, attach files to vouchers, and manage their inventory.
Dinesh Agarwal, CEO of IndiaMART said "We at IndiaMART firmly believe that Indian businesses are diverse and have varied accounting and billing needs. Unlike existing desktop based software solutions which were designed for traditional businesses, the team at Realbooks has consciously designed a cloud first product which makes it appealing for new age businesses. We believe that this investment complements other initiatives we are taking within this space, and are excited to partner with them for their next phase of growth’.
Since its listing on BSE and NSE, IndiaMART has invested in companies such as Vyapar, Bizom, Shipway, Legistify, Superprocure, Aerchain, M1xchange, Easyecom, Fleetx, Industry Buying and BUSY. All these investments are part of IndiaMART’s long-term objective of offering software solutions improving ease of doing business for Indian businesses and Enterprise.
“It’s an exciting time for businesses in India and technology like UPI and GST is bringing new opportunities and challenges. We are solving two problems for Indian businesses. We are organising financial data for companies working pan-India having offices in multiple cities and states such as logistics, auto dealerships, e-commerce. We have created a platform for CAs firms to provide accounting services to their clients and managing their compliances with integrated GST solutions. RealBooks along with IndiaMART is committed to being at the forefront of this revolution, creating a collaborative and integrated ecosystem for finance and accounting”, added Anurag Mohta, CEO of Realbooks.
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