Next Gen Paper Solutions raises INR 1.5 crore on GREX

Next Gen Paper Solutions Private Limited (Kleeto), an end-to end record and information management company, has successfully raised approximately INR 1.5 crore on GREX, which is an exchange-like platform where investors can discover companies, invest and keep track of their investments.The funds raised will be used for technology enhancement and increasing their geographical reach.

Founded by first generation entrepreneurs - Sunil Mahajan and Naresh Chand, Kleeto is engaged in end to end record management and creating intelligence around documents / information for instant access. It also helps to store physical documents in secure warehouses. Kleeto has more than 150 corporate accounts including large multinational companies.

Commenting on the occasion, Sunil Mahajan, Co-Founder and CEO of Kleeto said: “For any corporate, easy access to documents is the biggest challenge. Using our services, organisations can go from ‘clip’ to ‘click’ in a very real sense with all the assorted benefits and security. Kleeto not only maintains physical and digital records but also puts a layer of intelligence on these documents. With Prime Minister Narendra Modi’s emphasis on Digital India, it is imperative for us to further increase our footprint and expand our business”.

“We have raised angel capital before, but the GREX experience was very different. We were surprised at the fluidity of the process. Fund raising is a fairly long drawn and cumbersome undertaking otherwise. GREX team has done an amazing job at integrating the whole thing together.” adds Naresh Chand, Co-Founder and Director – Kleeto.

Vivek Joshi - an existing shareholder in Kleeto, expressed his confidence in the company “Kleeto successfully raised capital on GREX bringing in a completely new set of investors. This gives added confidence to our belief that Kleeto's business model is attractive and is poised for high growth.  The visibility of being on GREX and the senior level of investors coming on board has ensured we have access to a lot of networks and connections to take the business forward as well.”

Karanvir Singh, who heads Startup engagements at GREX, said “I am happy that Kleeto was our first company to raise capital on GREX. It is a joy to all of us that Kleeto raise was over-subscribed as well and it says a lot about the investor confidence in this company, as GREX was fairly new for investors, the appeal of Kleeto may have made it easier. Other interesting aspects of Kleeto are the quality of team, large market opportunity, golden trap business model, marquee customers and one of the highest margins in the Industry”.