Gradatim I.T Ventures - a unique and distinctive entity in the micro-transaction on-demand technology space, announces the completion of its Series A funding from NEA-IndoUS Ventures.
Mumbai, December 14, 2009: Gradatim is a privately held IT company with operations in India, Australia & Singapore. Gradatim is a pioneer in Business Process Utility (BPU) space and delivers evolutionary, on-demand utility services across the banking and insurance industries with a focus on micro-transaction space. Gradatim's client base ranges from leading MFIs and NBFC's, Insurance providers, to Banks and Development Organizations across Asia and Australia.

Prakash CV, Managing Director of Gradatim, commented:

"Our proven, on-demand platforms, enables our customers to rapidly launch new products, manage the full product life cycle in real time, and rapidly launch new products, create and manage multiple distribution channels seamlessly. Our customers have benefitted from reduced total cost of ownership by upto 30%. We view NEA-IUV as our partners in exemplary progress. We believe this Series A funding would further strength our offerings, making it more incisive, distinct and 'customer -focused'. This would, I believe, hasten our emergence in the leadership position in our chosen segment and strengthen our global foot-print growth."

Kumar Shiralagi, Managing Director of NEA-IUV commented

"NEA-IUV is pleased to enter into a long term partnership with Gradatim, a leading technology driven service provider in the fast growing micro-transaction industry. Consistent with NEA-IUV's investment strategy, Gradatim represents a proven management team and technology offerings that provide comprehensive end to end technology solutions for the micro-transaction industry, which is a need of the hour given their rapid growth rate"

YES BANK was the Exclusive Advisor to this transaction. Speaking on this occasion, Mr. Rana Kapoor, Founder/Managing Director & CEO, YES BANK said, "YES BANK is privileged to be associated with such a marquee company in this emerging sector. We are fully committed to support Gradatim in all its future endeavours through our dedicated Sustainable Investment Banking division".