QueueBuster, a mobile-based POS application, has raised INR 63.3 crore (~USD 8.16 million) in a Series A funding round led by Chiratae Ventures, Omidyar Network India and Flourish Ventures. DMI Alternative Investment Fund (the Sparkle Fund) and Unaprime Investment Advisors (an exclusive banker to QueueBuster) also participated in this round. The company will focus on merchant growth, product enhancements and scaling of its distribution network.
QueueBuster, founded in 2016 by a team of second time entrepreneurs led by Varun Tangri, is a full-stack mobile POS application to manage billing, inventory, khata (daily ledger), online dukaan, customers and loyalty programs all from a single application. The SaaS application is designed for a wide range of businesses from kirana and retail, to restaurants and fashion & apparel, to automobiles and more. QueueBuster runs on all Android devices including the recently introduced Android based credit/debit card swiping machines.
“Merchants in today’s time are overwhelmed by a plethora of stand-alone applications for every small or big requirement of theirs. Unfortunately, none of those applications provide them with a holistic set of features to manage their end-to-end operations effectively. Merchants are forced to use multiple applications which decreases their efficiency even further. With QueueBuster, merchants can manage their entire business operations with ease. Our aim is to reach at least 10 million merchants by the year 2025”, explained Founder and CEO, Varun Tangri.
"QueueBuster team has over 8 years of experience in the Android POS industry. They have developed a very comprehensive solution for MSMEs in terms of features, user experience and cost-effectiveness. Their resolve to provide the best after-sales support to the MSMEs will be a cornerstone to succeed in the MSME market", TCM Sundaram, Founder & Vice Chairman, Chiratae Ventures.