technology

Zerodha-backed Rainmatter invests Rs 10 crore in ERPNext


Rainmatter, a fintech incubator backed by Zerodha, has invested Rs 10 crore in opensource enterprise resource planning software ERPNext.

ERPNext, backed by Frappe Technologies, is a customisable ERP that contains scores of modules, everything from inventory management to payroll to sales and support CRM, and ticketing to HR and employee wellness.

ERPNext is offered as a hosted cloud solution for businesses with competitive prices.

“This is a strong signal of the arrival of ERPNext as an alternative to the large, expensive and proprietary ERP products. ERPNext is powerful, scalable and 100% opensource and with the investment we will continue investing in the product and the community,” said Rushabh Mehta, founder & chief executive officer, ERPNext.

ERPNext has played a significant role in helping us rapidly build and scale the Zerodha technology stack into the largest stock broking platform in India, said Kailash Nadh, chief technology officer, Rainmatter and Zerodha.

“We are very happy to be able to support ERPNext, the best Free and Open Source (FOSS ) project out of India, and also make this investment into the FOSS ecosystem here…Rushabh Mehta founded ERPNext 10 years ago as a system to help manage his family’s business, and since then, he and his team have turned it into a sophisticated and expansive piece of technology…The team of passionate technologists and FOSS developers are now at a juncture where they have to expand to non-technology arenas such as sales and consulting to cater to the growing list of enterprise, B2B customers,” said Nadh.





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