Cashfree Payments partners with Mumbai Angels Network to provide startups with payment solutions

By Leandra Monteiro

Payments and API banking solutions company, Cashfree Payments announced its partnership with Mumbai Angels Network to support startups with seamless payment solutions. Through this partnership, Cashfree Payments will help more than 170 startups to accelerate growth by providing payment solutions at subsidized pricing. With Cashfree Payments’ solutions and services these businesses will have seamless transaction processes and will be able to achieve economic scalability.

Commenting on the partnership, Reeju Datta, Co-Founder, Cashfree Payments said, “We have always focused on empowering the startup ecosystem by providing seamless payment frameworks so that startups can streamline their payments for efficient operation. We are pleased to partner with Mumbai Angels Network in this endeavour. Our goal is to mentor and offer a suite of Fintech products at special rates to these  start-ups to accelerate their progress and establish ourselves as reliable partners in their growth and success”.

Commenting on the partnership, Nandini Mansinghka, Co-Founder & CEO, Mumbai Angels Network said, “We are curating a high-end cohort of service providers to strengthen the core businesses of our portfolio companies. In this initiative, we believe Cashfree Payments can be a promising partner for paperless banking services, an innovative solution for early-stage companies looking for payment service”.

The Mumbai Angel Network is a startup investment platform that backs seed and early-stage ventures. It has 15 years of experience and a network of about 550 angel investors that enable startups to unlock their potential and scale growth across core operations.

Recently, Cashfree Payments has launched the first product from its Banking as a Service (BaaS) offering, ‘Accounts’ to help platforms create, link and manage bank accounts of all kinds on behalf of their customers, partners and vendors. ‘Account’s by Cashfree Payments will enable 100% paperless instant bank account creation, helping businesses to quickly build a financial services product and grow fast. The company offers 6 FinTech innovations: Payouts, Instant Refunds, Cashgram, Pre-Authorization, Subscriptions, Instant Settlements. This is outside of its regular offerings, which includes Payment Gateway, Payouts, Cashgram, Autocollect, Marketplace Settlement and supporting features.