Suvidhaa receives fund from Norwest

Mumbai, Sep 25: Looking ahead to aggressively expand its portfolio of services, Suvidhaa Infoserve on Thursday, Sep 25 said it has received funding from Norwest Venture Partners and Reliance Technology ventures.

Without specifying the amount of funding, Suvidhaa in a release here said that the new capital would be used to extend its service offerings and enhance business development and market efforts. Services Commerce company, Suvidhaa, promoted by Parsh Rajde and initially funded by Shaporo Palonji Mistry, has powered more than 4,000 local general stores across 15 states with its S commerce technology. It planned to expand to 20,000 franchise outlets in the country by 2009.

With minimal computer knowledge required general store owners have found it very easy to sign up and use the Suvidhaa platform for all kind of purchases such as railway tickets, mobile recharge, air tickets, insurance payment and other payments. Suvidhaa's S Commerce platforms enables real time transactions across multiple service providers and has been tested for nearly one million transactions a day.

UNI