Fintech startup raises Rs 250 cr from Global Venture Capital Funds
Summary
Thiruvananthapuram, Jun 26 (UNI) A fintech startup that was part of the ‘Fund of Fund’ scheme of the Kerala Startup Mission (KSUM) has raised Rs 250 crore from global venture capital funds like Tiger Global Management, Speedinvest and Beenext. The funding, raised in two rounds over the last three months, has taken the company’s valuation to Rs 1,000 crore. The other investors in the company include Tanglin Venture Partners Advisors, 3one4 Capital and Better Capital’s AngelList Syndicate. We are happy to see that this small support has enabled company to accelerate fast and with new infusion funds and expertise we expect company to scale further heights in near future.” Commenting on the achievement, Anish Achuthan, CEO, Open, said, “This funding will help us launch new products like the Open+ card and Layer that will enhance our value proposition for small businesses. KSUM is the nodal agency of the Kerala government for entrepreneurship development and incubation activities in the state.