India’s most significant E-invoicing program for SMEs, SpiderG, a Pune structured start-up, got seed capital by top industry veterans, Mr. Rahul Kirloskar, Professional Chairman, Kirloskar Pneumatic Company Small; Fusion Tech Endeavor, Mr. Pravin Dongre and Adi Sarvanan, Creator and Leader Allsec Systems.
SpiderG is a SaaS product which gives real-time actionable insights to users about their business and their trades with clients and suppliers.
SpiderG is aiding SMEs to avoid its capital mismanagement and enhance their cash awareness. It exchanges smart invoices, purchase requests and other documents. It offers planned communication with other businesses as well as internally over specific transactional documents.
With range of motion and cloud popularity in corporations, SpiderG helps businesses to transact and talk to their sellers/suppliers electronically, get information about receivables, payables and other business activities within the business; while seamlessly integrating with the prevailing ERPs like accounting or SAP software like Tally.
Presently, the largest problem for SMEs is working capital mismanagement, which develops due to insufficient on-the-go information into one’s business and its own transitions with customers and sellers.
Ashwani Rathore, CEO and Co-Founder, SpiderG said :
“It’s a multi-billion opportunity in the B2B SME space and we are rightly placed to gain a significant market share. Our mission is to create a network for companies where they can interact with each other and thus leading to the formation of a network in the process. The way Facebook has done for individuals, we intend to the same for businesses. We are honoured that Mr. Rahul Kirloskar, Mr. Dongre and Mr. Saravanan have chosen to invest with us which have definitely boosted our confidence. We look forward to gaining valuable inputs and support from both the industry veterans,” says
Adi Saravanan, Founder and President, Allsec Technologies said,
“SpiderG team has a varied and in-depth experience. I am impressed with what SpiderG has achieved in a short span of time with very low cash burn. It is good to see companies like this building innovative products for the global market and I am excited to be a part of this journey.”
SpiderG currently provides around 350 businesses and desires for taking that total to 20,000 in a complete calendar year, while also taking its income to Rs. 2 crore at that time.
E-invoicing is its key offering although it also offers specific features that improve various phases in the exchange pattern. In 2016, however, the company is aiming at elevating capital raising of almost $5 million.