QueueBuster’s investors in the round include Chiratae Ventures, Omidyar Network India, Flourish Ventures, among others
Competing with the likes of Dukaan and Bikayi, QueueBuster aims to become a super app for retailers across the country
Currently at 20K+ merchants, the startup now aims to reach 10 Mn+ merchants by CY25
Delhi NCR-based QueueBuster has raised INR 63.3 Cr ($8.16 Mn) in a Series A funding round. The round was led by Chiratae Ventures, Omidyar Network India and Flourish Ventures. DMI Alternative Investment Fund (the Sparkle Fund) and Unaprime Investment Advisors also participated in the startup’s first institutional round of funding.
The startup plans to use the funds to focus on merchant growth, product enhancements and scaling its distribution network.
Founded in 2016 by second-time entrepreneur Varun Tangri, QueueBuster is a SaaS-based POS application. It helps enterprises manage billing, inventory, daily ledger, online storefront, customers and loyalty programs with a single application.
QueueBuster claims to have over 20K merchants ranging from neighbourhood Kirana stores to enterprises such as HUL, Tata and ITC. The retail tech startup said it has processed more than 1.1 Mn invoices worth over INR 130 Cr in May 2022 alone. Between January 2021 and May 2022, it has processed more than 12 Mn invoices worth over INR 1,000 Cr on its android app.
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QueueBuster now aims to reach 10 Mn+ merchants by CY25.
The application provides custom templates for a wide range of businesses from Kirana and retail to restaurants, fashion and apparel to automobiles. QueueBuster has recently introduced Android-based credit/debit card swiping machines.
The startup competes with the likes of Dukaan and Bikayi apps, which have enabled merchants to manage their stores digitally and reach a larger audience base.
It is well-known that small businesses are always grousing about how ecommerce majors like Flipkart and Amazon do not share consumer data, an essential analytics tool that can help SMBs plan their businesses better. Further, ecommerce has hurt the traditional players’ businesses and these dukaans are looking to go digital with minimum tech interventions. Thus, according to an Inc42 Plus analysis, digitisation of the Indian retail sector alone has provided SaaS startups with an opportunity of more than $2 Bn.
Taking advantage of the rising digitisation wave are startups such as Aarzoo, Kirana King, Shop Kirana, Peel-Works, Khatabook’s MyStore, Dotpe’s DigitalDukaan, OkCredit, MSwipe, mMagicpin and many more.