Info Edge will invest about Rs 30 Cr in HR tech firm Greytip Software by acquiring 3,58,581 Series-D compulsorily convertible debentures (CCDs) having a face value of ₹836.631 per Series-D CCD.
The company’s total shareholding, after this investment will be 28.73 per cent on a fully converted and diluted basis, it added.
“This investment will help the company create financial value as well as increase its presence in a business adjacent to one of its core operating businesses,” the filing said.
Greytip Software is an HR and payroll SaaS firm focused on serving SME customers in India and abroad, with its software solutions covering all areas, including employee information management, leave and attendance management, payroll and expense claims. It helps companies in streamlining HR operations and enhancing employee experience, thereby increasing productivity.
With deployments at over 13,500 customers spread across 150 cities in India, Middle East and Southeast Asia, Greytip HR can now implement and process payroll in over 20 countries. More than 1.4 million payslips are generated on the platform every month. In 2020-21, its turnover stood at ₹41.34 crore.
This funding follows its Series C funding in October 2019 wherein it raised Rs 34.5 crores from Info Edge and existing investor MegaDelta Capital.