Patni family office invests in Innoviti

Patni Financial Advisors, the single-family office of the Patni family, has participated in Innoviti‘s Series M funding round, which closed at ₹104 Cr (approximately $11.4 million) on February 28, 2026. Arihant Patni, Managing Director of the Patni Family Office, invested alongside existing backer Bessemer Venture Partners, with both investors doubling down on their positions. Other participants in the round include Ola Electric backer Ashutosh Joshi and JuliaHub cofounder Deepak Vinchhi, among others. No investors exited during the round. Innoviti, a Bangalore-based fintech soonicorn founded in 2002 by Rajeev Agrawal and Amrita Malik, enables merchants to accept payments and integrate real-time sales data into critical business processes. The company claims to process over ₹80,000 Cr in annual purchase volume across more than 2,000 Indian cities, with clients including Tanishq, Reliance Retail, Shoppers Stop, Adani Gas, and Inox. Its two core products are sales acceleration software Innoviti Genie and link-based payment collection app Innoviti Link. Innoviti plans to use the capital to partly pay off outstanding debt and to scale product development, sales, and distribution of Innoviti Link. The company received RBI approval to operate as an online payment aggregator in March 2024, which was expanded to include physical (in-store) payments in January 2026. Innoviti reported operating revenue of ₹142.6 Cr in FY25, up 35% year-on-year, and trimmed its net loss by 12% to ₹62 Cr. The company projects its pre-tax loss will decrease by a further 60% in FY26 and expects to file IPO papers with SEBI within 18–24 months. The first tranche of the Series M round — ₹35 Cr — had closed in March 2025.

About Patni Financial Advisors: The Patni family office

Patni Financial Advisors is a Mumbai-based single-family office established by the Patni family, among the earliest families in India to formalize the family office concept. The office was set up following the family’s exit from Patni Computer Systems, the pioneering Indian IT services company founded in 1978 by brothers Narendra, Gajendra, and Ashok Patni. Narendra Patni, an IIT Roorkee and MIT alumnus, is widely credited with originating the offshore software services model in the early 1970s — a business model later adopted across the Indian IT industry, with Infosys notably being founded in 1981 by former Patni employees including N.R. Narayana Murthy. In January 2011, iGATE Corporation acquired a majority stake in Patni Computer Systems for approximately $1.22 billion, including a mandatory open offer to public shareholders, resulting in a full exit for the founding family and private equity investor General Atlantic. Narendra Patni passed away in June 2014. Today, the family office is led by Arihant Patni as Managing Director, with his brother Amit Patni also active in the family’s investment activities through RAAY Global Investments. Patni Financial Advisors operates as a registered NBFC and deploys capital across listed securities, private equity, debt instruments, real estate, and alternative asset classes both in India and internationally, with a portfolio spanning approximately 137 companies across sectors including retail, software, healthcare, media, and finance. Arihant Patni — a University of Pennsylvania and Babson College (MBA, Magna Cum Laude) graduate — is also a venture partner at Ideaspring Capital (early-stage deep tech), co-founder of The Hive India (big data incubator), and co-founder of Nirvana Venture Advisors (Indian consumer internet fund). In 2016, the Patni brothers partnered with UK-based Campden Wealth to launch Campden Family Connect, a membership community for ultra-high-net-worth Indian families.

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Article Source: Inc42, 01.03.2026