On Monday, Queuebuster, a mobile point-of-sale app for merchants announced a Rs 63.3 crore funding round from Chiratae Ventures, Omidyar Network India and Flourish Ventures.

DMI Alternative Investment Fund (Sparkle Fund) and Queuebuster’s exclusive banker Unaprime Investment Advisors also participated in the round, according to a statement.

The company, which was founded in 2016, will use the funding to focus on merchant growth, product improvements and expansion of its distribution network, the company said.

The app helps merchants manage billing, inventory, “khata” (daily ledger), online store and customer loyalty programme.

It has joined more than 20,000 merchants, including community stores and consumer food companies such as HUL and ITC, the statement said, adding that it processed over 1.1 million invoices worth over Rs 130 crore in May 2022.

So far, it claims to have recorded over 12 million invoices worth over Rs 1,000 crore on the app since January 2021.