FPL Technologies raises USD 75 mln in series C

Monday 17 January 2022 12:36 CET | News

India-based fintech startup FPL Technologies has raised USD 75 million as part of its Series C funding round, led by its existing investor – QED Investors.

Other funding participants were: Janchor Partners, Sequoia Capital India, Matrix Partners, and Hummingbird Ventures. Fresh equity is raised at a post-money valuation of USD 750 million.

The company first launched OneScore in 2019– a no-spam, digital credit score platform offering free credit score checks and personalised insights with which customers can monitor and manage their credit health in a simple, secure manner.

The current funding comes in within 10 months after the company raised its Series B funding of USD 35 million. The latest round of investment brings FPL Technologies’ total funding since launch to approximately USD 125 million. FPL will use the fresh infusion of capital to strengthen their consumer value proposition, scale up its product teams, to grow the issuance of OneCard and expand its consumer base.

OneCard in the recent past has partnered with multiple banks to extend the digitally augmented experience of a new-age credit card to tech savvy Indians across the country. Its recent partnerships include banks such as Federal Bank, SIB, SBM, and BFSL.

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Keywords: funding, credit scoring, wealth management, startup
Categories: Banking & Fintech
Countries: India
This article is part of category

Banking & Fintech