Zerodha’s investment fund pumps in ₹10 crore in an enterprise resource planning platform ERPNext

• Rainmatter, Zerodha’s investment fund, and fintech incubator has invested ₹10 crore in ERPNext – an enterprise resource planning platform.
• The Enterprise Resource Planning startup offers businesses services like inventory management, payroll management, sales and support CRM, ticketing, HR, and employee wellness.
• ERPNext claims to be the biggest Free and Open Source (FOSS) project out of India.

Rainmatter, Zerodha’s investment fund, and fintech incubator has invested ₹10 crore in ERPNext – an enterprise resource planning platform.

Founded by Rushabh Mehta in 2010, the Enterprise Resource Planning startup offers businesses services like inventory management, payroll management, sales and support CRM, ticketing, HR, and employee wellness.

ERPNext claims to be the biggest Free and Open Source (FOSS) project out of India. “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% Open Source and with the investment we will continue investing in the product and the community,” said Rushabh Mehta, Founder & CEO, ERPNext.

Zerodha along with the ERP team has also made way for FOSS United, a non-profit foundation to promote FOSS projects like ERPNext to be built in India.

Zerodha’s investment strategy

Established by Zerodha’s founders in April 2019, Rainmatter invests anywhere between $100k -$1 million for a small equity stake in fintech startups.

In September, Rainmatter Capital led an angel funding round of ₹2.7 crore in an ‘online curiosity platform’ – Qshala. Rainmatter has also invested in startups like Kunal Shah’s CRED. Rainmatter has startups like Smallcase, Balance, Streak currently enrolled in its incubator.

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