IndiaMART, the largest B2B marketplace of India, via its wholly owned subsidiary Tradezeal Online Private Limited, has announced an investment of approximately Rs 13.75 Crores in Adansa Solutions Private Limited. 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%
Adansa Solutions under the brand name ‘Realbooks’, offers a cloud based accounting software product for businesses. Furthermore, it enables businesses to create customized invoices, attach files to vouchers, and manage their inventory. It also allows managing of different business units from a single dashboard.
Speaking about the investment, Mr. 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’.
Adding to this, “We are very happy to welcome IndiaMART as an investor and our strategic partner. 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”, said Mr. Anurag Mohta, CEO of Realbooks.
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 various software solutions which improve ease of doing business for Indian businesses and Enterprises.
