Spacenet to upscale its investment in the Mumbai-based fintech startup, Billmart.com
Feb 13, 2024
India PR Distribution
Hyderabad (Telangana) [India], February 13: In a strategic move to bolster its presence in the fintech sector, Hyderabad-based global trading powerhouse Spacenet Enterprises India Limited (NSE: SPCENET), with a significant footprint in Hong Kong and Dubai, announced its decision to upscale its investment in the Mumbai-based fintech startup, Billmart.com.
Billmart.com operates as a pioneering marketplace designed to meet the increasing liquidity demands of Corporates and MSMEs. It bridges these entities with lenders offering a mix of traditional and innovative financial products.
The platform stands out for its integration of advanced machine and human intelligence, providing data-driven insights alongside unique technologies to facilitate cost-effective, comprehensive digital transactions end-to-end.
Spacenet recently reported a remarkable 486 per cent surge in its consolidated profit after tax (PAT) on a year-on-year basis, underscoring its commitment to diversifying its investment portfolio by focusing on new-age, disruptive technology firms. Billmart.com, with its cutting-edge fintech solutions, aligns perfectly with Spacenet's strategic vision. Additionally, Spacenet's investment portfolio includes Pathfinder, a generative AI enterprise, and String Metaverse Limited, a trailblazer in the Web 3.0 gaming sector.
DVS Prakash Rao, Executive Director for Spacenet, emphasized the company's objective: "At Spacenet, our goal is to continuously seek out and invest in disruptive new-age companies. By doing so, we aim to substantially enhance shareholder value year after year."
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