Suvidhaa Infoserve, a digital services aggregator, has appointed Haresh Bathija as its CEO, while the companys Founder Paresh Rajde has been appointed Chairman and Executive Director. Bathija joins from Anil Ambani Groups Reliance Venture Asset Management, which, incidentally, is an investor in Suvidhaa. Suvidhaa is also backed by the Mitsui Corporation, International Finance Corporation, Norwest Venture Partners and angel investor Shapoorji Pallonji Mistry. Bathija had been a Non-Executive Director on Suvidhaa’s board since 2008, while at RVAM.
Suvidhaa had raised $12 million from Japan’s Mitsui corporation last November, taking its total funding to $25 million (including $7 million from IFC and existing investors, Norwest Venture Partners NVP and RVAM.
Suvidhaa allows individuals to make payments for a number services, working with around 300 Brands/Service Providers, claiming to reach over 10 million customers. It claims to have over 55,000 neighbourhood retail touch points in over 2800 towns across 28 States. At the time of funding last year, it claimed to have 45,000 neighborhood stores across 1700 cities and towns across 28 states. It also powers several Common Service Centres (CSCs) as a part of the national e-governance plan.
Suvidhaa competes with the likes of ITZ Cash, Beam, FINO and Oxigen, which also offer payment solutions.