News: Info Edge to invest Rs 30 Cr in HR tech firm Greytip Software

HR Technology

Info Edge to invest Rs 30 Cr in HR tech firm Greytip Software

With deployments at over 13,500 customers spread across 150 cities in India, Middle East and Southeast Asia, Greytip HR can now implement and process payroll in over 20 countries.
Info Edge to invest Rs 30 Cr in HR tech firm Greytip Software

Info Edge will invest about Rs 30 Cr in HR tech firm Greytip Software by acquiring 3,58,581 Series-D compulsorily convertible debentures (CCDs) having a face value of ₹836.631 per Series-D CCD.

The company's total shareholding, after this investment will be 28.73 per cent on a fully converted and diluted basis, it added.

"This investment will help the company create financial value as well as increase its presence in a business adjacent to one of its core operating businesses," the filing said.

Greytip Software is an HR and payroll SaaS firm focused on serving SME customers in India and abroad, with its software solutions covering all areas, including employee information management, leave and attendance management, payroll and expense claims. It helps companies in streamlining HR operations and enhancing employee experience, thereby increasing productivity.

With deployments at over 13,500 customers spread across 150 cities in India, Middle East and Southeast Asia, Greytip HR can now implement and process payroll in over 20 countries. More than 1.4 million payslips are generated on the platform every month. In 2020-21, its turnover stood at ₹41.34 crore.

This funding follows its Series C funding in October 2019 wherein it raised Rs 34.5 crores from Info Edge and existing investor MegaDelta Capital. 

Read full story

Topics: HR Technology, #HRTech, #FundingAndInvestment

Did you find this story helpful?

Author

QUICK POLL

What are the top work tech investment focus areas for your company currently?

2 months free subscription
q_auto,f_auto/v1636479037/mag-november-2021.png

Subscribe to all new People Matters HR Magazine

.

Subscribe
And Save 59% plus Two months free

Subscribe now

What is your strategy to augment employee well-being?

READ the November 2021 issue to know from global leaders how to integrate well-being at work