# VA Tech Ventures Pvt

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/va-tech-ventures-pvt

- Industry: Software
- Headquarters: Bangalore, India
- Website: www.happay.in
- Total disclosed funding: $21M
- Latest round: Series B (May 29, 2019)
- Investors on record: 5

## About

Based in Bangalore, India, and founded in 2012 by its CEO, Anshul Rai, and COO, Varun Rathi, VA Tech Ventures Pvt Ltd., trading as Happay, operates as an artificial intelligence-based expense management software that allows businesses to automate their expenses online through any mobile or desktop device. In December 2021, Dreamplug Technologies Pvt. Ltd., a portfolio company of Apoletto, Coatue Management, DF International, Dragoneer Investment Group, and Tiger Global Management, agreed to acquire VA Tech Ventures Pvt. Ltd. from AME Cloud Ventures, Axiom Capital Group, Greyhound Capital, Prime Venture Partners, Sequoia Capital, and TLabs for USD 180 million in cash and stock. As of 2021, the company has served over 6,000 businesses.

VA Tech Ventures Pvt. Ltd.'s solutions include Petty Cash Management, which helps businesses with multi-site offices, branches, or retail stores manage petty cash from a centralized location; Travel and Expense Management, a software that integrates the user's travel expense workflow from end-to-end and provides real-time visibility and control over all travel expenses; Prepaid Cards for Business Expenses can be used in place of cash advances, corporate debit or credit cards. The Digital Marketing Expense Card, a card for all digital marketing expenses; International Travel Card, carries money and make payments while the user is abroad; and Expense Report Automation, provides end-to-end automation from expense report submission and approval to reimbursements; Fleet express solution that enables businesses to track and manage fleet expenses such as fuel, FasTag toll payments, lodging, meals, driver salaries, and vehicle repairs; Epic cards; and employee tax benefits. The company also offers ISAC an end-to-end card issuing platform. The company's client base includes Tata Grow, PwC, Maruti, OYO, and Byjus.

## Funding rounds

- Series B, May 29, 2019, $3M — Greyhound Capital
- Series B, Feb 16, 2018, $0.3M — Hong Shan
- Series B, Nov 18, 2017, $10M — Hong Shan, Axiom Capital Group, AME Cloud Ventures
- Series A, Jul 14, 2015, $7.2M — Hong Shan, Prime Venture Partners
- Seed, Apr 23, 2015, $0.5M — Prime Venture Partners
- Seed, Dec 1, 2013, $0.5M — Prime Venture Partners

## Investors

- Prime Venture Partners (https://capitalatlas.ai/funds/prime-venture-partners) — Seed, Series A
- Hong Shan — Series A, Series B
- Axiom Capital Group (https://capitalatlas.ai/funds/axiom-capital-group) — Series B
- AME Cloud Ventures (https://capitalatlas.ai/funds/ame-cloud-ventures) — Series B
- Greyhound Capital (https://capitalatlas.ai/funds/greyhound-capital) — Series B