Page 22 - Banking Finance July 2019

PRESS RELEASE

rapidly adopting technology in payment system primarily in mutual fund etc."
through mobile wallet apps and now various APIs. Many
India's payments sector is laying greater emphasis on
banks including us independently or in partnership have
providing improved services to customers and upgrading
developed technology to digitize the entire payment cycle,
legacy technology infrastructures to enhance the overall
thereby reducing the working capital cycles, enabling experience, and The Economic Times Cards and Payment
cheaper credit to intermediaries and overall reducing the Summit brought together experts from the industry so that
cost of inventory management, a real good cost efficiency they could have a continued dialogue as they discussed the
for our country. I believe India is at an inflection point of latest trends and service offerings that would help boost
digital revolution where fintech is impacting at various sub the sector further.
sectors like lending, life insurance, remittances, investments

Leading Indian ERP and POS player, Ginesys, raises growth capital

Marathon Edge has agreed to invest close to $10M in “Ginesys has played a very important and robust role in our
journey to 500+ stores and this investment should help the
company to deliver greater innovation and technology.”
The Ginesys solution caters to retailers small and big.
Chaudhari Lifestyle is one such customer having 3 stores
based in Nagpur.
“We have chosen Ginesys ERP software because it is very
much suited to small retailers who want to expand to
multiple stores. We benefited from their experience with
large chains. Inventory control and cost effectiveness by
automating our business processes easily paid back our
investments,” says Rahul Chaudhari from the firm.

Ginesys customers span fashion brands, single store retailers
and large format stores and distributors across apparel/
Ginesys (a product of Ginni Systems Ltd). This investment
fashion, supermarkets, and general merchandise
will widen the scope and depth of Ginesys solutions which
categories.
are developed for small and medium consumer brands and
Ginesys will use the capital to bring the best global solutions
retailers.
at an Indian price point.
With over 20,000 users across retail and distribution clients,
Ginesys is the established leader in Point-of-Sales (PoS) and “Our customers operate in a complex and extremely
Enterprise Resource Planning (ERP). Since 2006, Ginesys has dynamic environment. We are introducing exciting products
been providing an affordable suite of PoS and ERP solutions to cater to the evolving needs of Indian retail, right from
across India. cloud POS to Omni channel and replenishment,” said
Prashant Lohia, founder and CEO of Ginesys.
Ginesys offers a one-stop shop for all ERP/POS needs
spanning supply chain, finance, warehouse management, Marathon Edge is a financial investor in Indian technology,
manufacturing all the way up to point-of-sales. Ginesys is consumer and healthcare services companies. While
used by leading retailers like Manyavar, Biba, House of Anita financial terms of the transaction were not disclosed,
Dongre, V-Mart, Soch, and Bazaar Kolkata. Prashant Lohia said that the relationship with Marathon
Edge is quasi-strategic in nature.
Enterprise software is mission critical for consumer
companies of all size. Ginesys has proven its ability to “With our partnership with Marathon Edge, we now have
provide a global quality solution. substantial financial means to invest in technology and
Ravi Modi-MD of National Fashion Icon Manyavar said, organization building, and make strategic acquisitions.”

22 | 2019 | JULY | BANKING FINANCE