The company based in Bengaluru has said that it would use funds to create its main platform capacities, expand the team and accelerate customer growth.
The financing tour saw the participation of the emphasis ventures (EMVC), Antler, Fendal and Ciiie, and Providential investors Sriharsha Majety (Swiggy), Mohit Kumar (Ultrahuman), Naiyaa Saagi (Myglamm), Nitin Gupta (UNI cards) and Nishith Rastogi (Locus).
Mysa, founded by Arpita Kapoor and Mohit Rangaraju, offers a unified financing and bank platform designed to help medium -sized companies – those with annual income or expenses between 10 rupes and Rs 300 Croore – Manage their their financial operations.
The platform incorporates banking operations, financial operations and accounting, connecting financial workflows such as invoices, tax compliance, payments and synchronization of business resources (ERP) in a single system .
To strengthen its banking capacities, Mysa has teamed up with Yes bank To provide integrated current account operations.
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The company has companies on board in sectors, including DPDZERO, KOUZINA, GURU & JANA, Swish and Rigi.Mysa said it aims to meet the challenges facing medium -sized companies, which often rest on banks Fragmented inherited and ERP systems, which do not meet modern commercial needs. The increase in compliance requirements and stricter investor financial controls have also strengthened the demand for financial precision in real time, he said.
“We are only starting to start. Mysa aspires to manage the banks and finances of the largest contributory companies to the GDP in India,” said Kapoor.
As part of its expansion, Mysa obtained a investment advisor (RIA) License of Securities and Exchange Board of India (SEBI).
The company has also developed a artificial intelligence (AI) Power tool, Mysa Smart Scan, which generates contextual accounts for invoices, predicts the due dates and categorizes expenses.
“MYSA is an essential solution that meets the daily challenges of the bank and the finance with which many Indian companies are confronted,” said Joseph Sebastian, associate vice-president of Blume Ventures. “By rationalizing these processes, MYSA will inaugurate a new era of cost efficiency as well as controls.”