Razorpay backs MSME advisory MSMEx in $1 million funding round

MSMEs, msmex investors, Razorpay, msmex funding, razorpay msme business, MSMEx

Bengaluru: MSMEx, a business advisory platform for micro, small and medium enterprises in India, has raised $1 million in a funding round co-led by digital payments firm Razorpay and investment firm TNF Investments.

The startup had earlier received funds from a clutch of angel investors, including Omidyar Network partner Badri Pillapakkam, SimpliLearn founder Krishna Kumar, Cleartrip’s Chief Technology Officer Manoj Sharma and E&Y partner Heetesh Veera among others.

MSMEx plans to use the fresh capital to scale its operations, and develop new technologies —including a deep learning-based recommender system, a live chat system and an artificial intelligence-based behaviour analytics system.

Founded in 2019 by Amit Kumar, MSMEx offers live business sessions for MSME owners and connects them to curated business experts for online interactions. It currently offers English language content and plans to shortly introduce content in Hindi and other regional languages in a bid to cater to non-english-speaking user base. MSMEx claims to currently have over half a million users, representing MSMEs from more than 1,200 centres across the country.

“Not every micro-business owner gets access to world-class business education or mentors and advisers, as 90% of them are located outside metro cities. MSMEx is taking structured business education and advisory services to every corner of India, to create future leaders of the Indian economy,” Kumar said.

Business owners and entrepreneurs can also ask queries to experts through a live chat community and talk to experts on one-on-one video calls for mentoring and leadership advice, the company said in a statement.

“While this unprecedented situation has forced the MSME segment to adopt everything new and leverage this as a once-in-a-lifetime opportunity, there’s been a need for startups and small business owners to be well-enabled to make informed decisions and move in the right direction,” said Razorpay co-founder Shashank Kumar.

Samir Khosla, managing Partner at TNF Investments, said: “MSMEx’s unique positioning addresses the core challenges faced by the entrepreneurs leading these enterprises—access to high-quality business advice, focused mentorship, actionable business education, all within a tight budget and available on-demand.”

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