Fintech agency Cashfree mentioned it has acquired $35.3 million (roughly ₹260 crore) as a part of its Sequence B fund increase. The funding was led by development stage monetary companies investor, Apis Development Fund II, with participation from current investor Y Combinator.
The funding will assist the corporate’s formidable development plans, together with introducing and additional rolling out new merchandise, the agency mentioned..
The funding will even help the corporate in making selective bolt-on acquisitions to additional increase its geographic and product attain, it added.
Akash Sinha, CEO and co-founder, mentioned, “We nonetheless see funds as an evolving trade with its personal challenges and we might be investing in next-gen funds in addition to banking expertise to make funds processing simpler and extra dependable.”
“With the strong basis of in-house applied sciences, tech-driven processes, and in-depth trade information, we’re assured of rising our firm to be the chief within the funds area in India and internationally.”