Bengaluru-headquartered business accounting and inventory management application company Simply Vyapar Apps Pvt Ltd has raised $30 million in a Series B round of funding led by WestBridge Capital. Returning investors IndiaMart and India Quotient also participated in the round. Fortytwo.vc also participated in the round, said a statement issued by the company.
The startup, which owns and operates the Vyapar app, will utilise the capital for continued business growth through digital and other distribution channels. It will also hire talent and plans on scaling up work on new revenue-generating streams with the capital, it said in the statement.