Reliance ventures invests in Gradatim – A Microfinance Technology Startup

Reliance Ventures has invested between 30-40 Crore(US$ 7- 9 million approx) in Gradatim (http://gradatim.co.in) market sources have revealed.The company and the venture capital fund both refused to  disclose the exact amount invested or stake acquired.

Gradatim is a microfinance tech startup and a pioneer in the Business Process Utility (BPU) space and delivers evolutionary on demand business process utilities to customers across industries for micro finance, micro insurance,micro payments and micro pensions.

One of Gradatim’e product is MFResolve which is an on-demand, modular product for the Micro-finance industry and is based on the ‘pay as you use’ functionality.

Gradatim had previously raised US$3M from NEA-IndoUS ventures and is headquarted in Bangalore.Recently it expanded to Australia and Dubai.

GRA-DA-TIM pronounced as grey-dey-tim is a Latin word meaning “step-by-step”, “gradually” or “by degrees”. Gradatim’s objective is to reduce the cost of computing, increase reliability and flexibility by transforming the way people use technology and third party outsourcing partnerships.

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