Paymatrix Raises Funds From IIIT-Hyderabad

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Paymatrix

Paymatrix, and online rental management startup has raised Rs 25 lakh from IIIT-H Seed Fund. Paymatrix is the first startup selected by Hyderabad’s IIIT Seed Fund for investment.

IIIT-H Seed Fund focuses on encouraging early-stage startups, their growth and other technologies support. The funding is going be to invested in startups to improve their efficiencies and democratizing the financial systems. The funding platform is a network of investors including tech professionals and successful entrepreneurs.

Paymatrix was started in 2015 and is an online rent and property management platform that eases out rent payment and collection process. The company offers services where tenants can pay their rents through EMIs on credit card, create rental agreements online, while landlords can screen potential tenants and avail renters insurance.

paymatrix

CEO and Co-founder of Paymatrix, Mukesh Chandra Anchuri said that the platform will keenly deliver its future product development with key ideas from strategic investor like IIIT Seed Fund. Paymatrix, which is a portfolio company of Axis Bank’s Thought Factory has also been recently selected to the PayPal Accelerator.

Paymatrix serves 14 cities across the country with 4000 tenants and landlords on its platform. It was selected among 12 finalists for the Village Capital Fintech 2016 program, funded by Paypal, Blackrock and DBS Foundation.

Paymatrix raised an undisclosed amount from Xseed Partners.

 

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