IndiaMART InterMESH to buy 51.09% stake in Livekeeping

For acquiring a stake of 51.09% in Finlite Technologies, IndiaMART InterMESH has announced an investment of approximately Rs. 45.98 crore.

IndiaMART will be investing Rs 35 crore into the company via primary infusion and the rest of the amount will be used to purchase shares from the promoters.

Finlite Technologies under the brand name 'Livekeeping', offers value added services to businesses over their existing on-premise accounting softwares, primarily ''Tally''.

It provides desktop based digital integration with on-premise accounting software which syncs the data automatically to its mobile based application enabling the user to view their accounting data on mobile.

With the help of Livekeeping application, businesses can access, analyze and share accounting information like sales, receivables, outstanding payments on real time basis.

In addition, Livekeeping also offers API's to connect on premise accounting software, with different e-commerce platforms, ERP's and software enabling speedily transfer of data.

Dinesh Agarwal, CEO of IndiaMART said, "Real time visibility of accounting data like revenue growth, profitability, cash flow management, etc. is a critical yet underserved problem faced by Indian Businesses.

Livekeeping has been able to validate an innovative SaaS based solution to this problem. Further, this investment helps complete the IndiaMART ecosystem in the accounting space.