Under the banner of VA Tech Ventures Pvt. Ltd, a Bengaluru-based business expense management firm, Happay, has secured a seed funding of $50,000 (Rs 3.1 crore).
The funding was led by sedd-stage VC firm AngelPrime. Founded in 2012 by IIT Kharagpur alumnus, Anshul Rai and Varun Rathi, Happay’s business management solutions streamlines the expense workflow of an organisation from end-to-end and gives real time visibility and control over business spending.
The company recently came up with Happay Business Expense VISA Card in partnership with Ratnakar Bank. The purchases done from the card is auto-captured on the platform and employees can get photo of receipts, record cash expenses and submit expense reports within few minutes.
As per Anshul Rai, CEO and Co- Founder, Happay, the intention is to bring all businesses under one integrated platform and deliver quality work to the customers. Happay is most popular for its travel and expenses, office administration, procurement and petty cash and employee or partner’s pay-out.
AngelPrime is investing out its maiden under $10 million fund. Recently, it invested $500,000 in a Chennai-based IoT and M2M technology form Nimble Wireless Pvt. Ltd.