Rainmatter, the Indian fintech fund and incubator backed by Zerodha, has invested Rs 10 crore into ERPNext, the biggest Free and Open Source (FOSS) project out of India. ERPNext is a highly customisable, out of the box ERP that contains scores of modules, everything from inventory management to payroll to sales and support CRM, and ticketing to HR and employee wellness. It is built on top of the Frappe Python framework that allows one to rapidly customise and build complex business applications and workflows.
Rushabh Mehta, Founder & CEO, ERPNext said, "We are delighted with the support we have received from Rainmatter Capital and Zerodha. 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. We believe this can transform the global landscape of enterprise software. Our collaboration with Zerodha extends beyond ERPNext and through FOSS United, we are committed to supporting FOSS projects and community in India. The world needs a lot more Free and Open Source software and we are aligned to position India as an impactful contributor on the global Open Source map.”
Rushabh Mehta founded ERPNext 10 years ago as a system to help manage his family’s business, and since then, he and his team have turned it into a sophisticated and expansive piece of technology — the only one of its kind in the world that is fully bootstrapped. The team of passionate technologists and FOSS developers are now at a juncture where they have to expand to non-tech arenas such as sales and consulting to cater to the growing list of enterprise, B2B customers.
Kailash Nadh, Chief Technology Officer, Rainmatter and Zerodha, added “ERPNext has played a significant role in helping us rapidly build and scale the Zerodha technology stack into the largest stock broking platform in India. We are very happy to be able to support ERPNext, the best FOSS project out of India, and also make this investment into the FOSS ecosystem here, a rare event in itself.”
The teams at Zerodha and ERPNext also created FOSS United, a non-profit foundation to promote and encourage innovative FOSS projects like ERPNext to be built in India.