Fintech firm raises ₹1,200 cr, to hire more for Hyderabad centre
The Hindu
Digital tax compliance and regulatory reporting software provider for businesses Zenwork, which has a development centre in Hyderabad, raised ₹1,200 crore recently from Spectrum Equity, a growth equit
Digital tax compliance and regulatory reporting software provider for businesses Zenwork, which has a development centre in Hyderabad, raised ₹1,200 crore recently from Spectrum Equity, a growth equity firm in the U.S. focused on internet-enabled software and information services companies.
Most of the funds will be utilised for hiring, particularly at the Hyderabad facility, on building more products as well as enhancing sales and marketing efforts in key geographies, Zenwork co-founder and CEO Sanjeev Singh said in a media interaction here on Tuesday.
“We are looking at expanding operations in Hyderabad to support our global entities and aim to be a 200-member strong team by end of 2022,” he said. Zenwork’s headcount at present is 80, of which 60 are at the facility here and the rest in the U.S. The firm, bulk of whose revenues are from the U.S. and had forayed recently into the India market, intends to explore growth opportunities through acquisitions. “We are looking at both inorganic and organic growth,” he said.