Property Rental management platform Paymatrix, which streamlines rent and deposit payments and collections by facilitating credit raised seed funding from IIITH.
This Hyderabad-based end-to-end digital rent management platform becomes the first startup to be selected and supported by IIITH Seed Fund.
Paymatrix enables tenant profiling, rental documentation, rent payment management and risk mitigation for thousands of tenants, landlords and property managers across India.
The startup, established in November 2016 has since grown its customer presence into 14+ cities in India and has 4000+ registered tenants and landlords on its platform with more than Rs. 12 crores of rent processed till date.
The startups value proposition starts with profiling the right tenant for a landlord using an algorithm designed to incorporate identity, social, credit and psychometric attributes. Tenants and landlords can then also get into a lease with digital rent/ lease agreements easily and ensure transparent documentation. The platform further helps the tenants to better manage their rent and deposits to landlord by extending the facility of credit both with and without a credit card.
IIIT Seed Fund’s focus is to nurture seed stage, early stage start-ups, innovative technologies, support them with mentoring and coaching, business guidance, market access, and any other growth stage support.
“As mentors and key players in the start-up ecosystem, we found that the lack of resources, mentoring, market reach and early stage funding seriously impedes and limits many start-up founders with great ideas. As a group, we wanted to address this through the mentor intensive fund we launched along with IIIT Hyderabad Foundation. IIIT Seed Fund is keen to invest in start-ups improving efficiencies and democratizing the financial systems,” said Viiveck Verma, Cofounder & Designated Partner IIIT Seed Fund.
Speaking on the investment, Mukesh Chandra Anchuri, CEO and Co-founder of Paymatrix, said, “We are delighted to have a strategic investor such as IIIT-H seed fund on-board and are sure to derive key insights from them in our future product development, given their great knowledge of technology-intensive businesses.“
Paymatrix plans to strengthen its product proposition into complete property rental management for both individuals and businesses. The start-up believes in their offering to bring in much transparency in rent transactions and in the process open-up a market for interesting insurance and credit products for banks and NBFCs. Paymatrix, which was a portfolio company of Axis Bank’s Thought Factory has also been recently selected to the PayPal Accelerator. займ на кртусрочный займ онлайн на киви кошелекбыстро займ улан-удэ займ срочно на картубеспроцентный займ на картузайм под залог