BillClap Raises Pre-seed Funding From IIM Lucknow
Methodically designed for small businesses, BillClap will augment current operative practices at SMEs and help in implementing data-driven growth strategies
For decades, the power of software, technology, and the internet has eluded this section of the economy, while the developed world embraced it and evolved itself. In line with the government’s visionary plans like Make in India, Digital India, and Startup India, we aim to infuse modern affordable techniques into traditional businesses.
After months of deep qualitative research and primary data collection, the team drew a complete landscape of the Indian economy. The overwhelming revelations around the fragmented offerings to small businesses kindled a new mission and thus BillClap - a new mobile-focused platform to run businesses better was introduced. Methodically designed for small businesses, BillClap will augment current operative practices at SMEs and help in implementing data-driven growth strategies.
Gaurav Gupta, Founder, BillClap said, “We have channeled some of our energies to a horizontal B2B SAAS product in accounting (invoicing, inventory, expense, party ledger management) and Online Selling since December 2021. The name of our product is BILLCLAP, and the first version of our MVP was made live on 29th September 2021 and had more than 24000 registrations with more than 1 million products already added in the 23000+ ‘Digital Dukaans’ created by merchants. This flagship product is part of a much larger ecosystem in BillClap, consisting of business utility software, productivity tools, technology products, and curated services built to help SMEs grow. We’re on a mission to digitize every small business.”
The pre-seed amount will be used for inorganic growth in merchant acquisition. The onboarding process of SMB/MSME on Billclap.com in Tier 2,3 cities has already been initiated. Currently, BillClap is catering to only nine towns. After this funding, the reach out to 10 more new cities in India was completed. Their aim is to cover more than 100 tier 2,3 towns in 12 months and to scale-up while maintaining the unit economics and before going for Series A funding in FY 24.