Info Edge India to invest Rs 30 cr in Payroll firm, Greytip Software

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Info Edge India to invest Rs 30 cr in Payroll firm, Greytip Software
PTI | Greytip Software is an HR and Payroll SaaS company focused on serving SME customers in India and abroad.

Info Edge India has entered into an agreement to invest about Rs 30 crore in Greytip Software.

Greytip Software is an HR and Payroll SaaS company focused on serving SME customers in India and abroad. It’s software solutions cover all areas, including employee information management, leave and attendance management, payroll, expense claims, and more.

It helps companies in streamlining HR operations and enhancing employee experience, thereby increasing productivity.

Incorporated in November 1994, Greytip was an enterprise HR tech company serving the needs of large businesses with its on-premise solutions in its earlier avatar. In 2011, it shifted gears and started focusing on SMB SaaS solutions.

With deployments at over 13,500 customers spread across 150 cities in India, the Middle East, and Southeast Asia, GreytHR now has the capability to implement and process payroll in over 20 countries.

At its current scale, more than 1.4 million payslips are generated on the platform every month. Its turnover in 2020-21 stood at Rs 41.34 crore.

The Company has agreed to acquire 3,58,581 Series D Compulsorily Convertible Debentures (CCDs) having a face value of Rs. 836.631 per Series D CCD.

The aggregate shareholding of the Company, post this investment, in the said entity would be 28.73% on a fully converted & diluted basis.

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