back Back

Safexpay, a FinTech startup raises $6mn bringing valuation to $100 million

By Leandra Monteiro

April 09, 2021

  • India
  • Safexpay
Share

Safexpay, startup, FinTech, funding, millionSafexpay, a Mumbai-based FinTech start-up has raised $6 million in funding from two investors at a valuation of $ 100 million. The company has raised $3 Million from T Choithrams BVI, a family of Indian origin now based overseas, and signed an agreement to raise the remaining $3 million from Ardor Advisors, an American investor.

According to the FinTech company the funds will be used for product improvement, bettering know-how for extra use circumstances, and likewise product launches in India and overseas. Safexpay as a company provides white label fee gateways, white-label neo-banking platform, white label QR Code administration software, Payout API and customised fee options to banks and different monetary sector contributors.

According to media reports, Founder and director Ravi Gupta said that the company now has a team of 100 people, up from 40 in September 2020, and has been delivering profits for the last two years. He reasoned that going to the people directly requires massive resources on spends like marketing and an ability to sustain losses as well. The company is targeting to raise another round of funding in the next four months, with an infusion of up to $20 million, he said.

Previous Article

April 09, 2021

Afterpay and Adyen team up to deliver flexible payments in the UK

Read More
Next Article

April 09, 2021

Visa announces 5 FinTechs to participate in its APAC accelerator program

Read More






IBSi Daily News Analysis

cloud,

July 19, 2024

India

SMEs leverage cloud to gain competitive edge, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

UK Open Banking marks 10 million user milestone

Read More

Today

OMS integrates GoCardless for smooth broker payments

Read More

July 23, 2024

Klarna integrates Sofort payment service with Klarna Payments

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024