Open raises USD 100 mln in Series C round led by Temasek

Tuesday 12 October 2021 14:14 CET | News

Neobanking startup Open has raised USD 100 million in its Series C round. 

The round led by Temasek was joined by Google and SBI Investment and saw participation from existing investors Tiger Global and 3one4 Capital.

Open plans to use the funding to further strengthen and accelerate its new product lines, said the company in a statement. It further added that it will expand its base to 5 million SMEs and expand to global markets like South East Asia, Europe, and the US.

Open offers digital banking services such as current account services, credit cards, debit cards, payments, accounting and expense management in partnerships with banks for startups and small and medium enterprises (SMEs). 

Apart from opening up new bank accounts, the company also offers its services such as expense and payroll management, payment gateway, invoicing among others to the existing account holders. 

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Keywords: neobanks, digital banking, SMEs
Categories: Banking & Fintech | Online & Mobile Banking
Countries: India
This article is part of category

Banking & Fintech