Hyderabad-based NumberMall, which offers online services for bill payment and ticketing in association with small retailers has raised undisclosed amount in funding from SRI Capital, founded by serial entrepreneur Sashi Reddi.
According to Kiran Gali, founder and CEO of NumberMall, SRI Capital’s equity investment was a part of the company’s overall plan to raise Series A funding of $10 Mn next year as it seeks to expand the operations across the country.
As a part of the deal, Sashi Reddi will join the board of NumberMall.
The startup acts like a revenue-generation platform for merchants, by using it, merchants could earn additional revenues by offering value added services such as bill payment, data cards and phone recharges to their customers.
Launched in 2012, Number Mall currently has a merchant network of over 13,000 in south India and it plans to increase it to 100,000 merchants in the next 18 months.
Last year, it MoneyOnMobile was in talks to acquire NumberMall.
Number Mall witnessed gross merchandise value of INR 117 Cr. in 2014. “We target to cross the INR 200 Cr. mark this year,” Kiran Gali said.
SRI Capital is also an investor in Shephertz, YuppTV among others.