IndiaMART Invests $11M in Livekeeping
Summary
IndiaMART, India’s largest B2B marketplace, has invested $11.4 million in Livekeeping, an app that lets businesses keep tabs on their accounting software. According to media reports Friday (March 25), the deal will also see IndiaMART acquire a 51.09% stake in Livekeeping, whose corporate name is Finlite Technologies Private Limited. “Real time visibility of accounting data like revenue growth, profitability, cash flow management, etc. In February, the company announced plans to invest $1.8 million in cloud-based accounting software platform Realbooks, a move that gave IndiaMART a 26% stake in the firm. “Unlike existing desktop-based software solutions which were designed for traditional businesses, the team at Realbooks has consciously designed a cloud-first product that makes it appealing for new-age businesses.” Since its initial public offering in 2018, IndiaMART has invested in companies that include Aerchain, Bizom, Vyapar, Shipway, Legistify, M1xchange, Easyecom, Fleetx, Industry Buyingn BUST and Superprocure.
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