The round also saw participation of existing investor Prime Venture Partners. The funds raised will be used towards hiring, product development, and expanding its presence outside India, Recko said in a statement on Thursday.
Founded in 2017 by Prashant Border and Saurya Prakash Sinha, Recko has built a SaaS-based financial reconciliation product that keeps track of the complete transaction lifecycle and commercial contracts for organisations.
The startup claims to have has reconciled transactions worth $5 billion. It is looking to reconcile transactions worth $10 billion by the end of 2020. Its customers include Grofers, Meesho, Dunzo and some of India’s top marketplaces across different industry sectors, the statement said.
INDIA DEAL MONITOR
Here are some prominent venture capital transactions in India from March 30-April 2, 2020.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Sector|
|Recko Software||Bengaluru||6 million||Series A||Vertex Ventures SEA||Prime Venture Partners||FinTech|
|Ergos||Bihar||4.6 million||Series A||Aavishkaar Capital||-||AgTech|
|Camp K12||Gurugram||4 million||Seed||Matrix Partners India, SAIF Partners||-||EdTech|
|Furlenco||Bengaluru||10 million||-||Lightbox, Dabur’s Saket Burman, Kris Gopalakrishnan, Gautham Radhakrishnan||Aamir Khan||Consumer Services|
|Juspay Technologies||Bengaluru||21.6 million||Series B||Vostok Emerging Finance (VEF)||Wellington Management, Accel||FinTech|
|MedGenome||India/US||55 million||Series D||LeapFrog Investments||Sofina, Sequoia Capital||Biotechnology|
|Nykaa||Mumbai||13.3 million||-||Steadview Capital||-||E-Commerce|