India, Feb. 28 -- Fintech soonicorn Innoviti has closed its Series M funding round at Rs.104 Cr ($11.4 Mn). The round saw participation from new and existing investors, including Bessemer Venture Partners, Ola Electric backer Ashutosh Joshi, Arihant Patni of Patni Family Office, JuliaHub cofounder Deepak Vinchhi, among others.

Innoviti plans to utilise the capital to partly pay off its debt, strengthen sales and distribution of its payment collection offering 'Innoviti Link', and for product development, the startup said in response to Inc42's queries.

"No investors have exited in the round, instead Bessemer Venture Partners and Patni have doubled down on their investment," it added.

Inc42 exclusively reported about the startup raising...